Source
r/legaladvice•
GhostFish

Do I own real property with a mortgage?

Location: FL, USA

I'm inclined to say no, but I'm just looking for resources/clarification.

I bought a house over a year ago with help from a lender. A few months later I was in a minor car accident with no reported injuries and vehicle damages claimed against my insurer at under $1,000. Then the other driver was involved in another accident later that month and now she is trying to take my insurance company or me for everything possible.

I have to fill out an affidavit stating my real property. Does my home that I'm paying the mortgage on count?

Posted Jan 26, 2015, 9:53 PM UTC

17
Citicop•

Yes, you own your home.

The lender has a lien on the property, but you own it. Which is why you pay the taxes each year, etc.

8
MikeAndAlphaEsq•

The fact someone went through the hassle of looking for houses, making an offer on a house, getting a loan for said house, making mortgage and tax payments on the house, and then questions whether they own the house blows my mind.

1
noteven0s•

Even in states that use a deed of trust theory rather than "mortgage", the person is considered the owner.

But, the house is subject to the mortgage lien and protected by homestead so, if that's all you have it shouldn't hurt. It should protect you from a claim that exceeds the limit of your policy.

3
meyerpw•

you are in constant contact with your insurance agent and attorney correct?

I'm just curious, who is asking you to fill out this affidavit?

1
GhostFishOP•

It was requested as part of the demand letter sent to my insurer. It's my understanding that the lawyers of the claimant are fishing to see if they could get more by suing me directly rather demanding my policy maximum coverage.

1
meyerpw•

If it's just a demand letter, you don't have to answer their questions. If it's a subpoena you do.

I would talk to a lawyer at this point.

1
GhostFishOP•

I'm under the impression that providing the requested info should protect me. I don't have much of anything other than my mortgaged house, ten year old car and my total assets are probably under 15k. It wouldn't be worth the time and money for them to sue me.

1