What is the difference between shared ownership and shared equity?
Q. When buying a house. 50% shared.
Asked by resonsible dad - Thu Aug 2 06:44:16 2007 - - 1 Answers - 0 Comments

A. Not a lot necessarily, as the phrases are used interchangeably by many. The basic premise of either is that you buy a portion of a house (say 50%) with a mortgage, and you pay rent on the rest. Typically you will have the right to extend your share over a period of time. Shared equity is more commonly used when refering to the Governments Open Market HomeBuy Scheme, with shared ownership a more generic term for the concept.
Answered by simplesimon - Thu Aug 2 07:56:22 2007

Costs/Negatives to transfer house deed from my business to personal ownership to get home equity loan?
Q. My business owns a home; and I want to transfer that home to myslef, in my own name. The home is paid-off. This will allow me to take out a home-equity loan. Are there costs/tax rammifications? Is there a negative I cannot currently detect? Thank you so much.
Asked by dougsuessegger - Wed Jul 30 09:40:07 2008 - - 1 Answers - 0 Comments

A. The bank won't loan on a house in your business name . You are getting a mortgage and it will have to be your mortgage; not the business'. You get a tax deduction for the loan. You must make the payments. Very simple. .
Answered by Ed Atun - Wed Jul 30 10:37:27 2008

Joint home ownership and equity loan question?
Q. I bought my house when I was still single. The house is paid off. I put my mother as a joint owner. Few years later my mother moved in with me. After I got married I bought a house together with my wife on condition, we sell the previous one. After I moved out, my mother changed her mind and wouldn't sell the house. There was enough money for her to buy a new place but she didn't want to move. We need the money badly at this time and not only she doesn't want to sell the house or buy me out, she just took equity loan using the house as collateral and is gambling it away in Las Vegas. I would like to know if it's legal to give equity loan to one owner without the other knowing anything about it. After all I am on the title and this is my… [cont.]
Asked by MadMax - Mon Jul 24 18:34:42 2006 - - 3 Answers - 0 Comments

A. i would get a legal opinion from an attorney in your state.
Answered by J Somethingorother - Mon Jul 24 18:39:56 2006

UK Housing Market: What is the difference between a shared ownership and a shared equity scheme?
Q. Are they the same thing or does each scheme work differently?
Asked by jimmy2times - Tue Jan 6 15:53:08 2009 - - 2 Answers - 0 Comments

A. The first answer is a load of rubbish. Both are ways of getting a helping hand onto the property ladder. Shared ownership is just that. You buy a share of a house, usually from a housing association. As well as your mortgage payments you pay rent to the housing association for their share. With shared equity, the buyer does not own the property in conjunction with any other party but takes out more than one loan for the property. A mortgage and an equity loan'. However, when the property is sold, the buyer has to repay the loans AND a proportion of any increase in equity of the property to the party making the equity loan'. I think that the equity loans are subsidised by the Government and the idea of the scheme is to help "key… [cont.]
Answered by SimonC - Tue Jan 6 16:39:08 2009

What exactly does "equity" mean when it comes to home ownership?
Q. I hear a lot of people talk about equity when it comes to buying property, but embarrassingly enough, I don't actually know what it means... could anyone explain it to me? Thanks!
Asked by kiki - Sat May 17 23:58:42 2008 - - 5 Answers - 0 Comments

A. The amount you could sell for minus the mortgages.
Answered by shipwreck - Sun May 18 00:02:18 2008

Is there a bank that will do a home equity line of credit with only 1/3 ownership on a property?
Q. I'm a 1/3rd owner and I wanted to take out a loan with the property as collateral. I want to know if there are any banks that will take a legal document saying that the house is for collateral on the loan, instead of trying to convince the other owners on the property to sign over the title.
Asked by crimson - Fri May 30 01:46:14 2008 - - 4 Answers - 0 Comments

A. I don't think so
Answered by tman - Fri May 30 02:23:44 2008

What is a simple definition of "equity" as it relates to home ownership?
Q. What is a simple definition of "equity" as it relates to home ownership?
Asked by natasha - Sat Jul 8 19:51:04 2006 - - 9 Answers - 0 Comments

A. Equity is the difference in the balance due on the mortgage and the value of the real estate. Equity can be created either by paying the principal down, appreciation in value, or combinations of both.
Answered by hithere2ya - Sat Jul 8 22:39:42 2006

what is the definition of equity ownership?
Q. what is the definition of equity ownership?
Asked by tutu t - Mon Dec 11 14:29:10 2006 - - 2 Answers - 0 Comments

A. It's the owner's interest in all assets after all liabilities are deducted. Hope this helps...
Answered by Q.S.G - Mon Dec 11 14:34:12 2006

How can i get a Joint Equity with another person on my home and mortgage liability?
Q. What do i need to have a joint ownership(joint equity), with another person, on my home for which i currently have a mortgage? I want to have this other person as 50% owner of the home and as well as the loan liability. The house is located in Orlando FL. US
Asked by pandit ji - Mon Nov 27 17:35:58 2006 - - 1 Answers - 0 Comments

A. The first step would be try to do a "streamline" refinance with your current. You can't just sign some one up to assume half your debt. Furthermore, most lenders will not allow a "non occupant co borrower" meaning, all people who are on the loan app have to live in the home. So, you could refinance, with you as the primary borrower and this other person as the co borrower, and therefore jointly assume the debt. Also, if you are married, I am nearly positive that Florida is a community property state, meaning, that even if your spouse is not on the loan to your home, if they live in it they own half.
Answered by Helen R - Thu Nov 30 21:26:11 2006

Buying more equity in shared ownership housing.?
Q. I live in a shared ownership home otherwise known as part buy- part rent. Have 40% share, but should i buy the remaining 60% ? Please let me know the pros and con for the same. Thanks in advance.
Asked by Ateef A - Thu Oct 29 08:49:09 2009 - - 2 Answers - 0 Comments

A. Can you afford to be paying 60% more than you currently do in mortage payments? Can you afford to be paying above 60% more if interest rates rise significantly if the new year? Can you afford the administrative and legal costs of the new appraisal and additional sale? I presume you're currently paying a subsidised or social rent on the 60% you don't own - remember that not only will the additional mortgage payments cost more, but they aren't protected as socioal rents are and can rise in line with interest. I think the better option is to gradually staircase - rather than buying the full 60%, but another 10% or 20% after working out exactly what additional monthly expenditure you're comfortable with and how much room for manouvere you'd… [cont.]
Answered by La Comtesse DeSpair - Thu Oct 29 08:58:58 2009

How do I transfer ownership of a home to my name?
Q. My grandmother passed and the home that I lived in is in her name ~ I want to transfer ownership to get equity out of the home. First off can I do this and how I don't know the first thing about this so a website to reference would be good
Asked by K.C. - Sun Feb 24 20:13:09 2008 - - 8 Answers - 0 Comments

A. If you have a will giving you the house, all you need to do is go to the recorders office and file the will, and also the death certificate. The bank or mortgage company would be able to do this for you without problem, Only thing you might have to wait on is probate. Don't even need to go to the web site. My sister did this when Dad left her some property, and mortgaged it to the hilt within 90 days of his death.. Good luck
Answered by budhah1 - Sun Feb 24 20:19:12 2008

What is the value of sweat equity in business partnership?
Q. A prospective question of opportunity has arisen amongst my friends and I would like some input on how one would place a value on sweat equity. Specifically in contributions towards ownership of a corporation. The potential partner in question has recognizes they cannot have an equal share but knows their skill level & knowledge contacts would be invaluable to all. Kind of drop and run sort of person! So they only want to play ball if they get a piece of the pie. I m looking for a formula to place either a payback or direct value of what that sweat equity would be.
Asked by Bob - Wed Dec 13 23:51:14 2006 - - 1 Answers - 0 Comments

A. An equal share. I am assuming that you do not have the money to invest in the opportunity. So you have to 'make up' for the money by doing some hard work. If an equal share does not seem reasonable to the ones contributing the money, see what their original thoughts were. Good luck making the decision and try to keep your friendship very separate from the opportunity. :-)
Answered by chica loco - Sat Dec 16 13:21:00 2006

When a house is worth 200K, and the owner owes 75K, can the owner sale part of his ownership to someone else?
Q. If the owners still owes money on a house, can he still sale part ownership, if there is enough equity in the house? Or, does the owner have to payoff the house first, before he can sell part ownership to someone?
Asked by shutterbug - Mon Sep 1 09:25:06 2008 - - 4 Answers - 0 Comments

A. you can add someone to your home. you will need to refinance which is to find a new lender and to pay off the old. You can ask the present lender but they will want a new contract and all fines, interest, penalties, legal fees, etc paid off. so example: you know you have an incurable disease and maybe 5 good years of life left. To avoid taxes you want your mystery person on title of your property for less inheritence tax when you pass in 5 years . (or have an alternate life style and the local government does not provide for your partner) . you go into the bank and the combined income of these 2 new people is made and a new application is processed. The lending institution then asks your as owner how much do you want applied to… [cont.]
Answered by m2 - Mon Sep 1 09:46:37 2008

How do I solicit a transfer of home ownership? or find potential investors?
Q. We brought a second 3 bedroom home in a good neighborhood in San Leandro,CA about 2 yrs ago. After a series of family crisis we decided that our real estate investments just took up more time and money than our family can afford. We have a renter in the property and aren't willing to sell the property without the renter occupying the property; limiting the renovations we can do to prepare the property to sell. Can anyone help with informaiton on a transfer of ownership? With 2 years of equity in this market; such a slim margin of profit makes selling threw a realtor too pricey and like I mention before we can only do minimal updates. We just want the freedom to spend time with family and travel. We'd be looking for someone to assume… [cont.]
Asked by noguru - Thu Nov 9 13:48:50 2006 - - 1 Answers - 0 Comments

A. You say you don't have the equity to sell to an end user though a Realtor... then do you have enough equity that an investor will be willing to buy it? For someone to assume the loan, rather than get a new loan today, the interest rate must be worth it, and it needs to be a fixed rate. Make sure that if someone offers to have you "transfer" the ownership to them, that they either get a new loan or actually qualify through your mortgage company to assume your loan and that you get a release of liability. If you don't have enough equity for this, then rent it out to people with good credit until you do have the equity.
Answered by teran_realtor - Mon Nov 13 22:42:04 2006

Any thoughts on using existing equity in the condo I want to purchase as the down payment?
Q. I share a condo and want to purchase it. My name is not on the deed, nor is it on the mortgage. However, I have consistently paid toward home ownership. Since the idea of purchasing the condo came up, we were thinking that I could set a purchase price and get a loan for 80% of that amount. The seller would use existing equity as the down payment and it would not involve PMI being added to my mortgage. What is wrong with this senario? PS we are aware that transfer taxes and closing costs will need to be paid at closing. Are you aware of pros & cons for using existing equity in paying these costs?
Asked by karen e - Sat Feb 10 15:57:03 2007 - - 3 Answers - 0 Comments

A. What you're describing is called a "gift of equity". That is done by parents/grandparents to kids all the time. A non-relative must usually prove a long-standing personal relationship, one that could justify such generosity. Transfers of property between two people who know each other makes banks nervous. Apparently it gives more opportunities to defraud the bank. I'm not saying that's you, just to expect a few extra hurdles because of this. You'll want to check out whether the seller could be obligated for a gift tax. Just to cover that base, talk to a CPA or other tax professional. All that being said, as long as the appraisal supports your purchase price, and you do the gift of equity, what you are proposing is possible. I've… [cont.]
Answered by NONAME - Sat Feb 10 16:05:04 2007

Transfer property ownership to a friend?
Q. My boyfriend has hight debts. I wish to give him the money to clear the debts in return for him giving me 100% ownership of his interest in his property. His equity is not as much as I am paying so he will keep the mortage payments going. Is this possible that I can own the property while he continues to pay his mortgage?
Asked by Peter - Fri May 25 04:27:15 2007 - - 3 Answers - 0 Comments

A. honey don't do it!!! as much as you may love him...he could break up with you...and where would you be??? if you want to do this see a lawer first please...you are making a big desission here. maybe a contract could be drawn up...but he could sign over the property, and stop paying payments, then YOU must pay them...get legal advice first please...good luck.
Answered by Tracey S - Fri May 25 04:40:26 2007

Would american conservatives support a constitutional amendment limiting the right to vote?
Q. to only those who can show either income of $200,000 or more or ownership equity in land in excess of $500,000? that way we won't have to worry about the riff raff winning election again. How can we make this happen in the USA? and we wouldn't have to deal with the likes of ACORN signing up bums to vote in exchange for a meal.
Asked by jesswzmn - Thu Oct 8 17:49:27 2009 - - 10 Answers - 0 Comments

A. Not at all. I would be for overhauling the public school system so that we have a better educated voting public.
Answered by johninjc - Thu Oct 8 18:16:32 2009

How can we use equity on an inherited property?
Q. My brother and I inherited our dad's share of family farm property on which there are no liens. Our aunt (his sister) owns the other half and is in poor health and not in good financial shape. Is there a way to cash out her interest (like a reverse mortgage) and still retain our 50% ownership. We do not have the cash to buy her out. We currently cash rent the property to a farmer and make enough income to pay expenses and earn a small profit.
Asked by jlmacy - Tue Jun 12 20:05:54 2007 - - 5 Answers - 0 Comments

A. There are a couple of ways around this. the easiest, is to take out a mortgage or Home equity loan and buy your aunt's half of the property. This gives her a large sum of money and allows you to pay slowly for the property. Another way is a lease to own contract with your aunt. You simply pay her a monthly rent untill you have have paid her off for her half. This gives her a steady monthly income, and again allows you to make small payments on the home without needing a huge down payment. The third option is to sell the property to a buyer for it's full worth, and split the money with your aunt. In this case you both get large sums of money, but no longer own the farm.
Answered by Ron B - Tue Jun 12 20:21:35 2007

Will there be a sting in the home ownership tail?
Q. One observation I have made regarding the UK property market is that although over 70% of people now own their own house, perhaps when the demographic crisis kicks in in years to come (ie an aging population+not enough young people=not enough to fund state pensions) that people will be compelled to use the equity in their homes in leiu of a pension meaning that there will ultimately possibly be a sting in the home ownership tail.. Another reason this is likely to happen is that when the welfare state was founded the first generation of pensioners (who obviously had not put money in the pot and were supported by that generation of workers..) did not en-masse have such a valuable asset..
Asked by Smiley - Sun Nov 5 09:43:47 2006 - - 3 Answers - 0 Comments

A. You might be right - and that's why I'm doing everything i can to provide for myself in retirement. It is the only sensible thing to do.
Answered by Mr Glenn - Sun Nov 5 09:52:10 2006

What risks am I taking when assisting my boss in illegal issues?
Q. I have been a dedicated employee for my present company for over ten years. I was promoted last year to Vice President. Recently the three owners have had problems getting along to which two are pulling out early to retire. My immediate boss has asked me to stay on and in writing offered me part ownership, equity and a higher salary but he has asked me to do some things behind the backs of the other owners that recently I am feeling uncomfortable doing. None of this will effect my staff, for I have made sure they are not involved with any of the issues and have made sure all their 401k's stay in tact and have written an agreement that they will soon receive giving them the opportunity to purchase shares, however due to the many arguments… [cont.]
Asked by megabites42 - Tue Apr 10 15:07:23 2007 - - 5 Answers - 0 Comments

A. You'll be charged as an accessory to committing fraud. You are better off standing your ground and say it's not ethical.. Might also be worthwhile for you to seek advice from an employment lawyer to cover you to make sure you walk out if need be on amicable terms.
Answered by lyssaria - Tue Apr 10 15:14:59 2007