Legal Question in Real Estate Law in New York
Survivorship
property is owned by two people and the deed says right of ownership is go to each other. However when a mortgage was made on the property, it was copied from the abstract which did not say rights of survivorship on it. I believe the abstract should reflect what was on the deed; however it did not.
Which is binding the deed or the mortgage?
Asked on 1/03/00, 11:48 pm
1 Answer from Attorneys
Bunji Fromartz
Fromartz Law Offices
Deed or Mortgage
The Deed is the proof of ownership. The Mortgage, a lien.
The abstract only says who owns the property, not their relationship to each other.
:-)
Answered on 1/04/00, 6:48 pm
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