Posted on: 25th Feb, 2009 05:25 pm
I an a joint tenant in a stable, 30-yeqr, low interest, fixed rate mortgage. The partnership is no longer worth the strqain to me - it has gone sour after over 20 years, and I just want out. Can I Quit-claim this property and mortgqage, leaving my share to my partner or perhaps to his son, and get out of all obligations?
Hi gaylek
You can quitclaim your property-share to your friend. But quitclaiming will not relieve you of your loan obligations. You need to get it refinanced in your partner's name to get yourself removed from mortgage.
Thanks,
Jerry
You can quitclaim your property-share to your friend. But quitclaiming will not relieve you of your loan obligations. You need to get it refinanced in your partner's name to get yourself removed from mortgage.
Thanks,
Jerry