Posted: Sun Jul 06, 2008 12:40 pm Post subject: removing my name from a deed
when i was 19 i purchaced a home in nc w/ my boyfriend. we broke up
and i moved out of state to il and i want to remove my name from the deed. how can i do that..
thanks j.
Posted: Sun Jul 06, 2008 2:54 pm Post subject: removing my name from a deed
Welcome Jericho,
All laws depend on locale. In general though your question probably depends on whether or not there is a loan on the property. If so it will probably need to be refinanced. If not a quit claim will probably do the trick.
**This is not intended as legal advice. I am not an attorney.**
jericho Guest
Posted: Tue Jul 08, 2008 3:25 pm Post subject: reply
there is a loan and it effects my credit even though i do not live there or contribute to the loan.. no i dont want any part of the value, just my name off the loan.. i tried to get him to refinance and he refuses because he will have a higher interest rate. i will look up the quick claim and see what i can do with that. thank you very much!!!
You should not quitclaim the property unless and until your boyfriend agrees to refinance as quitclaim will not remove your name from the mortgage. If your boyfriend doesn’t want to quitclaim then you can file a partition lawsuit against him to sell off the property. Know more about partition lawsuit at http://www.mortgagefit.com/know-how/removecoborrower.html
Hope it helps. Feel free to ask if you have any further questions.
A quitclaim will not release you from your obligation to any mortgage loan, or other lien secured against said property. Refinancing is the best means to achieve this. The grantee must refinance the property using their own income, assets and credit, and they cannot use your income, assets or credit to get the financing approved.
And Larry is correct, if your boyfriend will not refinance, then you do have the option to fill a partition lawsuit.
Let us know if you have more questions. _________________ Cliff Pape
Market Analyst
www.home-buddies.com
Posted: Wed Jul 09, 2008 8:59 am Post subject: removing my name from a deed
If there is a loan a quit claim definitely won't help...as Larry said it will not release your liability from the mortgage - you'll still be liable & if there is a problem with the payments they'll track you down & demand money. It's their right.
**This is not intended as legal advice. I am not an attorney.**
nancy b Guest
Posted: Thu Sep 04, 2008 6:43 am Post subject:
my sister and I were left a home by my grandparents. Both our names are on the deed. She does not want hername on it - nor does she want to profit from it in any way. If it is sold down the road she does not want any tax implications as this is not her primary residence. I live in the house with my family and have paid all expenses for the last 3 years. There is no mortgage or loans on the house. Will a wuit claim remove her name without any tax penalties or capital gain if the house is sold?
Posted: Mon Sep 22, 2008 2:56 pm Post subject: DEED
I PURCHASED A HOME WITH MY GIRLFRIEND. MY NAME IS ON THE LOAN AND HER NAME IS NOT ON THE LOAN. HOWEVER, HER NAME IS ON THE DEED. SHE REFUSE TO REMOVE HER NAME FROM THE DEED. I WANT TO SELL THE HOME AND SHE REFUSES. WHAT CAN I DO?
You still have the option of buying out co-owner. In this process, you can offer some money to your girlfriend and you can request her to sign a quitclaim deed in your name. In this way, you will be able to get the deed in your name.
Hope this will help you.
Thanks,
Jerry
MARC Guest
Posted: Tue Nov 25, 2008 2:31 pm Post subject: REMOVING NAME FROM MOBILE HOME IN CO-OP
MY WIFE AND MYSELF OWN A MOBILE HOME IN A CO-OP PARK, NO LOANS.
CUT A LONG STORY SHORT, MY HEALTH IS NOT GOOD, BAD HEAT. SHOULD I REMOVE MY NAME NOW? WILL IT PREVENT ANY PROBLEMS ?
You can definitely transfer the property in your wife's name. You will have to sign a quitclaim deed for it. You have mentioned that there are no loans so I don't think there will be any issues. However, are you planning to take medicaid facilities?
laphillips
