Posted on: 26th Nov, 2009 10:04 pm
I want to buy out my ex on a home but I don't want the mortgage to change. I want to have a contract written that would eliminate him from any responsibility for the home. Is this legal? Can it be done?
Hi Rhonnie!
Welcome to forums!
If you want to buyout your ex, then he will have to transfer the property to you with the help of a quitclaim deed. However, this won't release him from the responsibility of paying off the mortgage dues. He will be liable for the dues unless you refinance the mortgage in your name.
Happy Thanksgiving Day :)
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you want to buyout your ex, then he will have to transfer the property to you with the help of a quitclaim deed. However, this won't release him from the responsibility of paying off the mortgage dues. He will be liable for the dues unless you refinance the mortgage in your name.
Happy Thanksgiving Day :)
Feel free to ask if you've further queries.
Sussane