ewasmer
welcome to the forum
if it is just removing name from the title, then you can do quit claim deed.
but that person is still responsile for mortgage payment
if you want to transfer the property alogn with mortgage, you cna look for novation
good luck and feel free to ask
welcome to the forum
if it is just removing name from the title, then you can do quit claim deed.
but that person is still responsile for mortgage payment
if you want to transfer the property alogn with mortgage, you cna look for novation
good luck and feel free to ask
Hi ewasmer,
I agree with Realgeni. A quitclaim deed can be used to remove a person's name from the property deed. However, if you want to remove a person's name from the mortgage, then refinance is the best option. In case, if refinance is not possible then you can speak to the lender about novation. However, it should also be noted that most lenders do not offer the option of novation. They would want you to refinance the loan.
Thanks
I agree with Realgeni. A quitclaim deed can be used to remove a person's name from the property deed. However, if you want to remove a person's name from the mortgage, then refinance is the best option. In case, if refinance is not possible then you can speak to the lender about novation. However, it should also be noted that most lenders do not offer the option of novation. They would want you to refinance the loan.
Thanks