Posted on: 19th Feb, 2010 07:58 am
my partner and i bought and house. we are both on the loan and both on the deed. we have split up and now we have to do something with the house. what are our best options. we have a cheap mortgage so neither of us could afford to rent for much less than we would be paying the mortgage if one of us were to move out. is a quit deed form a good option? neither have any reason to let the house foreclose as i said it would not be much cheaper for us to sell the house and then try to go out and rent. please help!
hi bennetts,
both your names are mentioned on the property deed. if anyone of you wants to get hold of the whole property, then the other will have to sign a quit claim deed form and transfer the property to the other. in that case, the person signing the quit claim deed will have to leave the property.
both your names are mentioned on the property deed. if anyone of you wants to get hold of the whole property, then the other will have to sign a quit claim deed form and transfer the property to the other. in that case, the person signing the quit claim deed will have to leave the property.