Is quick claim a way to remove co-borrower from title?

adonis · Posted: Thu Sep 11, 2008 10:24 pm Post subject:

Welcome brenda,

Legally your husband shouldn't have the right as because he has quitclaimed his share of property to you. Only if you agree, he can get back his share. I suggest you talk to a divorce lawyer and see what he has to suggest. By the way, who's on the mortgage?

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My mother owns a home and has added my sister, my brother and I as co-owners on the deed. My mother is in the process of selling her home. My sister and mother are not speaking to one another. My mother wants to remove my sister's name from the deed in order to sell the house. My sister has stated she will not sign to sell the house. What steps can be taken to make the house sell go forward or to remove her name from the deed. She will not sign a quit claim.

jerry · Posted: Fri Sep 19, 2008 3:01 am Post subject:

Hi Mitch!

Welcome to Forums!

I can well understand your mother's situation. One thing which she can do is that she may offer an amount to your sister and ask her to transfer the rights of the house in your mother's name. This process is known as "buyout co-owner".

You can know more about partition lawsuit from an earlier forum discussion.

However, if your sister and your mother are in a joint tenancy or under a tenancy in common, your mother will have the right to partition. This means that she can go to the court and dissolve the tenancy and then the assets will be distributed among the various tenants. In this case your mother will have to sell the property.

Thanks...
Jerry

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what happens to the property and mortgage when one party dies and is the coborrower ?

jerry · Posted: Thu Oct 02, 2008 2:43 am Post subject:

Hi Matty!

If the co-borrower dies, then the other borrower will be responsible for the property as well as the mortgage.

Thanks,

Jerry

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A condo is mortgaged in only my mother-in-laws name. Both my name and her name are on the title. She will be to filing for bankruptcy. Would this effect me or my credit in any way? Is there a way to remove my name form title? Please help! What is the best solution??

jerry · Posted: Fri Oct 10, 2008 4:12 am Post subject:

Hi Jess!

As your name is not on the mortgage, your credit will not be affected. You can sign a quitclaim deed and transfer the property in your mother-in-law's name.

Thanks,

Jerry

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