Posted on: 12th Oct, 2010 09:50 am
One party just walked away, refuses to pay, and hasn't paid in 8 months. The other has severe reduction of income due to unemployment and receives unemployment benefits. Neither party is concerned about the mortgage being paid and we could stand to lose property. How can I solely and legally take possession of the title of the property when the others will not pay for it? Was is the law for the state of California?
Thank you!
Thank you!
Welcome kingdomkeeper,
You can ask the other property owners to sign a quitclaim deed and transfer their share of the property to you. Once they do so, you'll become the sole property owner. You can, then, refinance the mortgage and transfer it in your name and pay off the mortgage dues.
You can ask the other property owners to sign a quitclaim deed and transfer their share of the property to you. Once they do so, you'll become the sole property owner. You can, then, refinance the mortgage and transfer it in your name and pay off the mortgage dues.