Posted on: 20th Aug, 2010 04:26 pm
We live in CA.
There is a partial owner of our house (title only, not mortgage) who does not live on the property.
We are looking into a quitclaim since she will not sign title-only documents when we attempted to re-fi. If quitclaim is unsuccessful, sounds like partition lawsuit is the next step. If it gets to this phase, are we required to sell the property? Or could we simply re-fi and pay off the partial owner's % that is one the title?
:cry:
Thanks.
There is a partial owner of our house (title only, not mortgage) who does not live on the property.
We are looking into a quitclaim since she will not sign title-only documents when we attempted to re-fi. If quitclaim is unsuccessful, sounds like partition lawsuit is the next step. If it gets to this phase, are we required to sell the property? Or could we simply re-fi and pay off the partial owner's % that is one the title?
:cry:
Thanks.
Hi sfjdlove,
If you file partition lawsuit, then the property will be sold off as per the court's order. After the sale, the loan will be satisfied first and the rest of the amount will be divided between both of you.
If you file partition lawsuit, then the property will be sold off as per the court's order. After the sale, the loan will be satisfied first and the rest of the amount will be divided between both of you.