Posted on: 01st Dec, 2009 10:41 am
purchased home with a co-owner 4 yrs ago. married that person for one year and then divorced. i want to transfer the title to the other co-owner since they cant refinance to just themselves due to credit score. will the warranty deed with the mortage referenced as joint lendees be sufficient and give this person clear title under their name? thanks
Welcome marvin,
Until and unless the co-owner of the property refinances the mortgage in his/her name, you won't be able to release yourself from the loan responsibilities. Also, until the loan is paid off, the co-owner of the property will not get a clear title under his/her name.
Until and unless the co-owner of the property refinances the mortgage in his/her name, you won't be able to release yourself from the loan responsibilities. Also, until the loan is paid off, the co-owner of the property will not get a clear title under his/her name.