Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

if 2 friends own property, and one moves out, not selling there potio, i.e. title on home stil 50/50,do they loose any property rights?

Posted on: 28th May, 2011 01:28 am
I own a home with a friend. We are 50/50,both names on the title of the home. Circumstances will have it that one of us is going to have to leave. But, neither of us is planning on selling the home. the person who stays in the home will pay the full mortgage every month. While the person who moves out will split the property taxes and any major maintenance on the home. My question is, does the person who leaves the loc forfiet any rights to the property?
Hi lilwreck!

Welcome to forums!

If the person leaving the property has his/her name mentioned on the property deed, then he/she will still remain the owner of the property even if he/she leaves the property.

Feel free to ask if you've further queries.

Sussane
Posted on: 29th May, 2011 07:49 pm
Page loaded in 0.110 seconds.