Posted on: 17th Mar, 2009 12:18 pm
Hi, hoping someone can help?
my ex husband has to use his best endeavours to release my name from the mortgage. He cannot do so as he doesn't earn enough to cover mortgage on his own. My solicitor wants me to transfer the title deeds to his sole name, whilst still liable on the mortgage. Can this really happen?
thanks Tazgirl76
my ex husband has to use his best endeavours to release my name from the mortgage. He cannot do so as he doesn't earn enough to cover mortgage on his own. My solicitor wants me to transfer the title deeds to his sole name, whilst still liable on the mortgage. Can this really happen?
thanks Tazgirl76
hi tazgirl,
you can sign a quitclaim deed to transfer the title to your ex, but will this serve yuor purpose? because you will still remain on the loan and be responsible for making payments for it. do you want to be held liable for the loan without having the title in your name?
as his income isn't enough a refinance doesn't seem to be an option. you can request the lender to take your name off it, when you sign the titel over to him. you can also negotiate with the lender to do a novation agreement.
you can sign a quitclaim deed to transfer the title to your ex, but will this serve yuor purpose? because you will still remain on the loan and be responsible for making payments for it. do you want to be held liable for the loan without having the title in your name?
as his income isn't enough a refinance doesn't seem to be an option. you can request the lender to take your name off it, when you sign the titel over to him. you can also negotiate with the lender to do a novation agreement.