Farmington Hills, MI asked in Real Estate Law for Michigan

Q: Do I have to group a house and additional lot together when remortgaging?

I'm in the process of acquiring my parents home. They remortgaged it in 2004. Now I'm being contacted by someone who is threatening me saying that the title company wants the additional plot of land added with the house. Do I have to listen to him or can I just leave it as is? I've been talking with the company who has the mortgage and making payments to be able to "restart" this current mortgage just with my name added to it.

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1 Lawyer Answer
David Soble
David Soble
  • Farmington Hills, MI
  • Licensed in Michigan

A: If the additional parcel and it's legal description was included in valuation of the property for the mortgage lender, then it should be included in the mortgage and encumbered by the same. If the title company 'missed" this parcel and this description initially, you may still have to correct this oversight under your 'compliance agreement" with the title company. The lender can take action against you as well, if indeed their loan was based in part on the additional security.

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