Posted on: 17th Jun, 2010 05:58 am
my mother has a life estate on the property, i am on the deed and my domestic partner, he has left the home and is not paying the home equity loan, the house is going into foreclosure, my mother wants to get a reverse mortgage to payoff the loans and still remain in the home until she passes away, is there a way to get his name off of the deed to get the mortgages paid off so the home is not foreclosed on. and if there are any profits from the reverse mortgage do we have to send him his share even if he is not willing to sign over his share of the property?
hi rasme!
welcome to forums!
unless your domestic partner signs a quit claim deed and transfers the property to you, he would remain one of the owners of the property. you will have to negotiate with him so that he transfers the property back to you and your mother by signing the quit claim deed. once he transfers the property to you and your mother, then he won't remain the owner of the property any longer. thus, you don't have to send him any profits resulting from the reverse mortgage.
feel free to ask if you've further queries.
sussane
welcome to forums!
unless your domestic partner signs a quit claim deed and transfers the property to you, he would remain one of the owners of the property. you will have to negotiate with him so that he transfers the property back to you and your mother by signing the quit claim deed. once he transfers the property to you and your mother, then he won't remain the owner of the property any longer. thus, you don't have to send him any profits resulting from the reverse mortgage.
feel free to ask if you've further queries.
sussane