Home arrow Mortgage Forums arrow Deeds, Property Transfer and Estate Planning arrow

Un married seperation

Author Message
Nina McNeill

Guest







Post Posted: Tue Sep 09, 2008 9:29 am    Post subject: Un married seperation
Like 0
Dislike 0

My Partner and i have been living together for 5 years and we have now decided on a permanant seperation, we are un married. The Mortgage on the house is in my name but my partner took over the mortgage payments when i lost my job.....we never added him to the mortgage.I am happy to walk away from the house but my partner wants to keep the house for himself.....How do i get my names removed from the title deeds and Mortgage.Please can you give me the necessary advice so that this situation can be resolved!!!!!!!
Icon Mini Profile sara
sara
Moderator



Joined: 05 Jul 2006

Posts: 2699
Location: New Brunswick, New Jersey
497.27 Dollars($)
Post Posted: Wed Sep 10, 2008 6:22 am    Post subject: RE:
Like 0
Dislike 0

Hi Nina,

Welcome to the forums.

If your partner wants to keep the house for himself, you need to sign over a grant deed to the partner. And to add him to the mortgage, you'd have to ask him to refinance the loan in his name.

Take care

_________________
Find me at FB: http://www.facebook.com/people/Sara-Jones/100002976822020
Icon Mini Profile gmakerley
gmakerley
Community Mentor
Community Mentor

best lender badge

Joined: 09 Nov 2007

Posts: 12376
Location: bloomfield, ct
58.49 Dollars($)
Post Posted: Fri Jun 03, 2011 7:23 am    Post subject:
Like 0
Dislike 0

Nina, as Sara suggested, you'll want to arrange to transfer ownership to him, but he'd have to concurrently arrange for a mortgage to pay off the existing debt that is yours alone. Presumably, throughout the partnership, he's maintained a good credit standing with sufficient income, etc. that will allow him to be approved for a new loan.

You've not indicated whether or not any funds exchange will take place, as in a situation where you're trying to pull out your share of whatever equity may exist. If you are looking to take advantage of equity that might have built up, you'll want to formalize the agreement with a contract between the two of you, and in fact, you'll be selling the home to him in that case.

Depending on how simple you're trying to make this all, you may or may not wish to sit down with an attorney to iron out all the details.

_________________
George M. Akerley
Mortgage Underwriter/Consultant
Word of Excellence- Writing/Editing/Proofreading
860-221-5044
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Refinance Quotes
Call for Rates
888-485-7561
Speak to a lender now.

We will match calls to our toll free number with our network of lenders.

Ask Questions
Community Attorney
Joshua Heard - Attorney Joshua Heard
Houston, Texas






Highlights

Helpful References

Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Our Community

MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards

Five simple ways to earn money with the Mortgage Community.

New and upcoming tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool







We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 0.061 seconds.