I have a serious problem that I need help with!! - Posted by David Bowers

Posted by dealmaker on May 10, 2006 at 06:13:01:

David it is definitely lawyer time! For anyone else who reads this and is thinking of buying ppty with anyone OTHER THAN A SPOUSE, this is why you don’t!

To answer your question, yes SHE can deed her share to YOU, but she would be a complete idiot to do so, if she’s on the mortgage. I just wonder why YOU have doubts about HER claim to any equity. Why do you think YOU have any claim to it?

You made no mention of who footed any of the acquisition bills.


I have a serious problem that I need help with!! - Posted by David Bowers

Posted by David Bowers on May 10, 2006 at 03:18:58:

I will try to make this short and to the point. Just a few months back, I sold my townhouse to purchase a house with my Fiancee. The house is completed and we are both living in the house currently. There are some serious problems between us and I need to make sure I can be protected here. We both are on the title currently and she is the only person on the loan. I have been informed that I can use a Grant Deed to remove her interest in the property. Is this true? Does she have recourse to come back and request a portion of the equity between closing and the recording of the Grant Deed? I need help badly on this problem. I can be reached at Dbowers3@gmail.com. Thank you so much for your time and cooperation.


Help! Ugly unwanted baby. - Posted by John Merchant

Posted by John Merchant on June 10, 2006 at 09:36:16:

If she’s really on the deed, and odds are she is, if she’s also on the bank’s note, then only she could sign a deed of her interest.

And if she did, that wouldn’t release her from her debt to the bank, would it?

But think about this…won’t she be wanting out of that bank loan right now? If you’re not on the note too, then it’s all her big ugly baby which she’s definitely not going to want to keep on feeding.

So I’d advise you just to keep your cool here and see if you can’t outwait her…she’s got a payment due every month.

I’d also guess YOU are not on title, since the bank would not have permitted that if you aren’t also on their note, so I’d see a lawyer about protecting your legal interest…if any you have!

Only If She Wants Off Title - Posted by Jimmy

Posted by Jimmy on May 10, 2006 at 06:58:18:

YOU cannot remove her from title. SHE can remove herself. if you guys get into a major spat, and cannot agree, your answer lies in the courts. [judicially supervised sale of property in partition action]. this is absolutely the last resort, and is to be avoided at all costs. the legal fees will drain both of you.

This fact pattern comes up every 4-5 weeks on this board. same answer every time.