any liability to a co owner but not a co borrower of our property

lij1992 · Joined: 21 Sep 2008 Posts: 1 1.31 Dollars($)

My husband and I along with my brother own a beach house property. All three of us are on deed, but only my brother and I are on mortgage. Recently, my husband and I are going divorce and he would like to walk away from the property, but my brother would like to remove his liability to the house in order not to hit his credit report and his other assets. I try to help my brother, which my husband agrees as long as I have a way. Would you mind to advise me on this isse?

smithsussane · Posted: Sun Sep 21, 2008 10:45 pm Post subject:

Hi lij!

Welcome to the forums!

You can ask your husband to sign a quitclaim deed and give up the interests of the property. This will remove his liability towards the property and will not affect his credit score even.

Feel free to ask if you have further queries.

Sussane

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