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 crazyzammy916
Joined: 23 Oct 2009
Posts: 2
1.60 Dollars($)
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 Posted: Fri Oct 23, 2009 6:51 pm Post subject: can i sell my half |
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| my name is on the loan she keeping the house she on the deed she wants her name added mine removed thats fine but can i sell my half |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Fri Oct 23, 2009 8:31 pm Post subject: |
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Hi crazyzammy,
You will be able to transfer/sell your share of the property to her. You will have to sign a quitclaim deed in her favor and transfer it to her. You can mention the sale price of the property in the quitclaim deed. However, once you do so, she will have to refinance the mortgage in her name. If she doesn't refinance the mortgage, then you would remain liable for it though you won't remain an owner of the property.
Thanks |
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manoj_gopale
Joined: 16 Feb 2009
Posts: 481
0.49 Dollars($)
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| Posted: Sat Oct 24, 2009 6:02 am Post subject: |
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crazyzammy916
you can only be able to sell your share if your name is there on the deed (even partial ownership will do).But if your name is there only on mortgage then hardly you will be able to do as far as selling the property is concerned.
If you have good equity in the home then only you will be able to go for transaction of selling your equity in the home otherwise not....but you should transfer your mortgage to her name asking her to refinance the mortgage on her name alone if you are not getting any benefit from it.
keep in touch...
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