Posted on: 12th Jan, 2010 06:58 pm
my girlfriend and i are both on a mortgage and i am the main borrower.
she is threatening to refinance the mortgage in her name alone and not give me my share of the mortgage. can she do this? shouldn't i have to sign something to get my name off the deed?
i have been paying the entire mortgage for the last 3 years and she has not paid a penny, can i get more of the equity than just half?
we have been paying on the mortgage for 5 years now.
thanks in advance!
she is threatening to refinance the mortgage in her name alone and not give me my share of the mortgage. can she do this? shouldn't i have to sign something to get my name off the deed?
i have been paying the entire mortgage for the last 3 years and she has not paid a penny, can i get more of the equity than just half?
we have been paying on the mortgage for 5 years now.
thanks in advance!
girlfriend? okay, grant.
well, since you are both on the deed and on the mortgage as well, neither of you can act without the other. so she's blowing smoke in that case.
as to how you split equity when you split up, that's up to the two of you to decide. generally, if you were married and went to divorce court, you'd split it 50/50. i don't know what cohabiting couples do, and of course, you won't have a divorce lawyer or judge to help with that.
it'll be a fight, i'm sure, if you look for more than half.
well, since you are both on the deed and on the mortgage as well, neither of you can act without the other. so she's blowing smoke in that case.
as to how you split equity when you split up, that's up to the two of you to decide. generally, if you were married and went to divorce court, you'd split it 50/50. i don't know what cohabiting couples do, and of course, you won't have a divorce lawyer or judge to help with that.
it'll be a fight, i'm sure, if you look for more than half.
If you both mentioned on deed, then both have to take 50/50 share to each. As gmakerly says, If anyone of your try to get more than half, this will be fight. Take 50% to you & give 50% to her, That's fare.
Thanks & Regards.
gunz.ijjistaff.
Thanks & Regards.
gunz.ijjistaff.
sounded like fairness was going out the window from that earlier post, though.
Ha, I don't know why it defaulted to a pic of a girl for me.. I'm a dude haha... I figured I would have to sign something to get my name off...
Hi grant,
If your girlfriend wants to claim the property as her own, then she'll have to ask you to sign a quit claim deed in her favor. Once you do so, then she can refinance the loan. As of now, she can't claim the property as her own though she refinances it in her name. If she refinances now, it will make her solely liable for the mortgage. On the other hand, if you're on the property deed, then you will be considered as the co-owner of the property.
Take care.
If your girlfriend wants to claim the property as her own, then she'll have to ask you to sign a quit claim deed in her favor. Once you do so, then she can refinance the loan. As of now, she can't claim the property as her own though she refinances it in her name. If she refinances now, it will make her solely liable for the mortgage. On the other hand, if you're on the property deed, then you will be considered as the co-owner of the property.
Take care.