Wednesday, November 23, 2011

My name on deed and mortgage. Other person is only on deed. How can I get them off deed?

I have an investment property with someone ,but the mortgage is in my name and in a moment of insanity I put the deed in both of our names. I am afraid this person will hold up the sale of my property and i want them off the deed ,but I don't know where to start.My name on deed and mortgage. Other person is only on deed. How can I get them off deed?
Attempt to get the other person to sign a ';Quit Claim'; on the deed/property.My name on deed and mortgage. Other person is only on deed. How can I get them off deed?
MLaw is right but farther than that you should have placed language something like ';subject to the mortgage'; when you put her on the title and described the recordation of the note and mortgage, otherwise if you conveyed after the mortgage the lender I'm sure has a provision in their note and mortgage that will allow them to call the note due because of the unforseen new owner that is now in competition to their granted and potential property rights. You also need to check the note and mortgage language to ascertain if you even had the right to grant any interest without permission from the lender. You can not undo a contract and or an agreement and or a conveyance without the other party agreeing to it unless it is a court order.


Your best bet is to talk to a local legal begal to help you get a quit claim from her.


American Bar Association: http://www.abanet.org/about/ or http://www.abanet.org/statelocal/home.ht鈥?/a>


Buena Suerte
You have made a gift %26amp; now you have to live with it. Only she can execute a deed to release her interest in the property.
Who is this person? Quit Claim deed will take the name off the deed, but, only this person can sign it.
I would call the title company and let them know what you want to do. They can accomidate you. Also if this person was not on the application and approved and you put them on the deed after closing. In some cases if the lender were to audit there files and see this person on the deed that was not approved on the original loan they can call the note due. Meaning you would have to pay the home in full. There is a quick solution to that you just refinance. However it is just good practice to keep people off the deed unless it is your wife (community property state) or they were on the application. Good luck!
The other party and yourself will most likely have to have this taken care of by a competent attorney.Sorry.;-(=

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