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Can I ask the bank to sell?

Posted on: 19th Sep, 2006 02:25 pm
I did a quick claim to someone I do not want my name on the mortgage . Can I ask the bank to sell the property?
hi,

instead of selling the property if you want to remove your name from the mortgage then you can do novation.

by novation you can transfer your mortgage liability to the new person to whom you have quit claimed your property with the approval of the lender.

you can go through the details from this page for more information : novation

thanks
james
Posted on: 19th Sep, 2006 03:39 pm
hi,

one another option is to refinance the mortgage loan in the name of the new person to whom you have quit claimed the property.

but for that you should contact the current lender and discuss your situation.
Posted on: 19th Sep, 2006 06:18 pm
Hi Patricia,

Did you do the quit claim just to remove your name from the loan? You can only take your off the loan through novation or refinance.
Posted on: 19th Sep, 2006 09:28 pm
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