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Mortgage by 1 Owner of Co-Owned Apartment

Started by technorat
almost 13 years ago
Posts: 63
Member since: Aug 2009
Discussion about
I have a co-op jointly owned (all equity) by my wife and her mother and we would like to take out a first mortgage solely in my wife's name. I imagine the mom will need to sign the collateral documents? Or can my wife just use her portion of the apartment as collateral? I can't imagine it matters, but it is an investment property. Any insights would be appreciated. Thanks.
Response by ab_11218
almost 13 years ago
Posts: 2017
Member since: May 2009

all owners of the apartment will have to sign the mortgage.

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