My father wants to leave his house to my sister and I in his will. However, my step-mother says she has rights to the house because she is listed on the mortgage. Who actually owns the house?
Determining ownership of the house in this scenario depends on several factors, including the laws governing property ownership in your jurisdiction and the specific terms outlined in the mortgage and any other relevant legal documents. Here's a breakdown of the key considerations:
1. **Legal Ownership vs. Mortgage Listing:** Being listed on the mortgage does not necessarily confer ownership of the property. The mortgage is a financial agreement between the lender and the borrowers (your father and step-mother), outlining the terms of repayment for the loan used to purchase the house. Legal ownership, on the other hand, typically depends on how the property is titled and the laws of the jurisdiction.
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