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shared mortgage but only one person paying.

Posted: 30 Oct 2018 22:09
by mariaR
Hi i was hoping you could help me with a problem I am facing. Me and my sister decided to purchase a property in Cyprus for which we took out a joint mortgage. However, she then disappeared abroad and I am left with a purchase agreement with both our names on and a mortgage under both our names that I am paying alone. To add on we have no title deed as the developer has gone bankrupt. Is there any way that the title deed can come out under my sole name since i am the one who paid for the entirety of the mortgage?
Thank you very :)

Re: shared mortgage but only one person paying.

Posted: 31 Oct 2018 09:32
by Nigel Howarth
mariaR wrote: 30 Oct 2018 22:09Is there any way that the title deed can come out under my sole name since i am the one who paid for the entirety of the mortgage?
If you and your sister's name is on the sale agreement the Title Deed will be issued in joint names (the joint mortgage isn't significant).

If/when she reappears she can 'gift' her share of the property to you - he share will then be transferred to your name.

Regards,

Re: shared mortgage but only one person paying.

Posted: 03 Nov 2018 01:16
by mariaR
Thank you very much for your reply