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need my house deeds back, HELP..

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colette | 08 Apr 2015, 05:39 PM Agree 0
My brother bought a business in Queensland, he needed my home as collateral for the loan. Believing it was only for 1 to 3 yrs Max. And the deeds would be returned and my house released from his business loan. 9 years on now, and still have not been able to get my property released from his loan.. he says that if I try to get my deeds back from his bank he will lose his business. The stress is killing me, CAN ANYONE PLEASE ADVISE ME, I believe I would be classed as a guarantor, is it possiblefor me to write to the bank with whom the loan is with and rescind my guarantee, Or do I just have to sit back and wait for his bank to take my home from me if he has problems meeting his loan repayments..

  • howard | 18 May 2015, 09:46 PM Agree 0
    You should take help from real estate agent plus you should hire a lawyer as these issues are legal.
  • Terryw | 02 Jul 2015, 02:19 PM Agree 0
    You guaranteed a loan, what were the terms of your guarantee? It is likely the guarantee will only be removed once the loan has been repaid or alternative suitable collateral is available.

    It would also be unusual for a loan to be set up like this, perhaps there are legal avenues to rescind the guarantee under equitable principals.
  • Lexus Conveyancing Melbourne | 28 Jul 2015, 03:35 PM Agree 0
    Hi Colette,
    The first thing to do is to get a conveyance or a solicitor to carry out a title search. This will tell you if the property has a mortgage registered it and if it is still registered in your name. If it is I you name the next step is to lodge a caveat then engage a good solicitor.
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