Video Summary

Are you still liable for a mortgage if you quit claim the property to a third party?  The answer to the question is yes; you are still liable under the promissory note that the mortgage secures.  The mortgage is a lien against the property, which of course the buyer is taking the property subject to so they can enforce the mortgage or foreclose if the payments are not made. 

You signed a promissory note and so if you are the maker under the note you have liability under the promissory note.  The time that that would be a problem would be if the property was not worth as much as the amount that is owed under the note and then the mortgage holder could if they would sue you for what they call “a deficiency judgment.”  But you are not relieved from the liability under the promissory note if you simply convey away the property by quit claim deed, sale, or any other type of conveyance. 

So if you would like to be released and you want to convey the property away, well give me a call and I’ll tell you what will be necessary to do that.

My phone number is (727) 847-2288.

Video Summary

What should I do if my neighbor’s fence is situated on a portion of my property?  Well usually it’s not a problem particularly if it’s just over a little bit and you get along with your neighbor.  Some people get concerned about having fences on their property and they get concerned about the neighbor cutting the grass or being able to claim that property if they leave the fence there a long period of time.  That is not the case.  The only time that you have to worry about if it comes into being is whenever the boundary line is uncertain.  Let’s say you don’t have a platted lot or you’re out in the field, and then you have a dispute as to where the actual boundary line is.  And then sometimes the fence can be indicative of where the boundary line should be.

But fences, a lot of people look at that when they buy property and think well, the fence shows where the boundary line is when in fact the fences don’t show where the boundary line is and you really need to have a survey.  Getting back to the question about what to do about it with your neighbor, well good fences make good neighbors and if it doesn’t, it encroaches just a few inches one way or the other, well, it’s certainly not going to hurt you in any way.  And so I wouldn’t worry about it.  If your neighbor becomes a problem, well then I suggest you get a survey so that you have a drawing that shows where your fence is on your property and if you want it removed and you don’t get along with the neighbor is to send him a copy of the survey and a letter saying that please move your fence and give him a time certain.  Say if you don’t contact me within that period of time I’m going to remove your fence from my property.  Please make arrangements and remove your fence.

So it really doesn’t present too much of a problem.  Now whenever you get financing and there’s a fence encroachment, the lenders really don’t have problems with the title insurance people will probably ensure the lender that they won’t suffer any loss by reason of a fence encroachment.  So it’s primarily a how well do you get along with your neighbor situation rather than any particular legal situation  ’cause you’re not gonna lose your property over the fence being on your property.

So if you got a fence problem, well give me a call.  I’ll be glad to talk to you about it but you don’t want to spend a whole lot of money on it.  The other solution is if you do want it removed at some point is try and enter into an agreement with our neighbor that says I don’t have a problem with it but if somebody on down the line, we need to take care of it for legal purposes, will you sign an agreement that you’ll remove it later on is another solution.

So if you have questions, well give me a call at 727-847-2288.  Thank you.

Video Summary

If separated, can my spouse inherit the property I buy before we are divorced?  Well one of the first things we need to address is Florida doesn’t have legal separation.  I believe that’s something comes from New York where they may have legal separation but we don’t have that.  In Florida either you’re married or you’re single, one of the two, you’re not anywhere in between as far as your rights are concerned.

So we get to the question as to whether or not your spouse can inherit your property.  Under our Florida law as is that you can leave your property to whomever you want under your will and you can exclude your spouse.  Your spouse then has the right to file what they call an elective share wherein they get I believe it’s 30 percent of everything you own no matter how you hold it, whether it be in a revocable trust or wherever.  So yes, you can buy property, you can leave it to whoever you want to.

Now if you happen to buy a home and you’re separated and you not going to be able get a mortgage when you buy a home in Florida if you’re married without the joint of your spouse because the Florida constitution requires that a spouse join in any conveyance or any mortgage as far as your homestead is concerned.  But let’s say you say, “Well that’s not a problem.  I pay cash for it.”  Well that’s, it’s not a problem until you get ready to sell it during your lifetime while you’re still alive, and then you turn around and have to have your spouse join in the deed in order to be able to sell it.  So if it’s your homestead here in Florida it’s not so much a problem buying it but when you get ready to get rid of it or try and mortgage it, you’ve got problems as far as needing your estranged spouse to sign.

Also if you are still married, even though you’re separated and you own your homestead here in Florida and you pass away, the spouse has a right to a life of state in your homestead property or can elect to take a half interest  provided that you don’t have any minor children.  If you have minor children then it’s automatic life estate.  So there’s any number of complications as far as purchasing property.  And so my suggestion is if you’re separated, well you need to go ahead and take care of getting divorced and clean up your property rights or enter into a marital settlement agreement with your separated spouse whereby they’re waiving any rights in this and that’s another way to handle these problems.

So if you have any questions on that, well give me a call at 727-847-2288.