Legal Question in Real Estate Law in Maryland

Dual Home Ownership for 38 Years; however, over the years the Mortgage was obtained and is solely owned by one of the two owners.................

* Son of the other owner has obtained Power of Attorney, what rights do he or his father has regarding the property?

Asked on 11/15/19, 6:22 am

1 Answer from Attorneys

Cedulie Laumann Arden Law Firm, LLC

A mortgage does not change legal ownership of real estate. A mortgage simply describes a lien against the property and dictates who is personally responsible to repay the lender.

A person holding a power of attorney may have the authority to manage and control real estate owned by the principal. Without looking at a specific power of attorney it would be difficult to say what a particular agent can and cannot do with respect to the principal's property.

If co-owners no longer wish to own property together, they would need to have a deed from one to the other (which may trigger transfer/recordation taxes unless an exempt relationship exists) or in extreme cases seek partition or sale.

While I hope the above general information helps, it does not take the place of getting specific legal advice.

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Answered on 11/15/19, 9:42 am

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