New York City real estate attorney Peter Zinkovetsky (https://www.avenuelawfirm.com/two-names-on-deed-one-on-mortgage-who-owns-the-house/) of Avenue Law Firm has released a new article titled “Who Owns the House if There are Two Names on the Deed and One on the Mortgage.” The article aims to provide clarity on a commonly misunderstood aspect of real estate ownership in New York City.
In the article, the New York City real estate attorney explains that when there are two names on the deed and only one on the mortgage, the legal ownership of the property is not affected by the mortgage. Zinkovetsky notes that many people mistakenly assume that the person on the mortgage is the sole owner of the property, but this is not necessarily the case.
The New York City real estate attorney states, “It’s important for property owners in New York City to understand the nuances of property ownership, especially when it comes to joint ownership and mortgages. In the case of joint ownership with only one name on the mortgage, the legal ownership of the property is not affected by the mortgage. The person on the mortgage may be solely responsible for the loan, but the ownership of the property remains the same.”
The article goes on to explain that in the event of a sale or transfer of the property, both owners on the deed must sign off on the transaction, regardless of who is responsible for the mortgage payments. Zinkovetsky emphasizes that it is important for both owners to be aware of their legal rights and obligations, and to have a clear understanding of their ownership interests in the property.
As a trusted real estate attorney in New York City, Zinkovetsky has helped numerous clients navigate the complexities of property ownership and real estate transactions. With years of experience in the field, Zinkovetsky is well-versed in the nuances of New York City real estate law and is committed to providing clients with sound legal advice and representation.
Lastly, New York City real estate attorney Peter Zinkovetsky’s article “Who Owns the House if There are Two Names on the Deed and One on the Mortgage” sheds light on a commonly misunderstood aspect of property ownership in the city. By clarifying the legal implications of joint ownership with only one name on the mortgage, Zinkovetsky aims to help property owners make informed decisions and avoid potential legal pitfalls.
For more information on Peter Zinkovetsky and the services offered by Avenue Law Firm, please visit their website or contact them directly.
About Avenue Law Firm:
Avenue Law Firm is a boutique law firm based in New York City, providing comprehensive legal services in the areas of real estate, business, and intellectual property. Led by experienced attorney Peter Zinkovetsky, the firm is committed to providing clients with personalized attention and high-quality legal representation. With a focus on delivering effective solutions and achieving optimal outcomes, Avenue Law Firm has earned a reputation as a trusted partner for businesses and individuals in the New York City area.
Avenue Law Firm
99 Park Ave 10th Floor
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Insider Quest 24x7 journalist was involved in the writing and production of this article.