QUESTION
How do I get out of the title and mortgage?
Asked on Jan 22nd, 2013 on Landlord and Tenant Law - Delaware
More details to this question:
The person I lived with for 23 years stayed in the house. I bought with the promise that she would continue the mortgage payments and find a buyer to give me my half of what the house is worth. She never did that and now she has failed to keep up with the payments and my credit has been ruined. I put her name on the title and mortgage when I bought it and now I'm in trouble. Please help.
5 ANSWERS
Business Attorney serving Tustin, CA
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Heinly Benson Killian and Kramer
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If you are not legally married to this person, then your remedy is to bring an action for partition against her. This is not a simple matter and you should definitely consult with an attorney. You must make the mortgage payments if you don't want the house to go into foreclosure.
Answered on Jan 29th, 2013 at 8:24 PM
Litigation Attorney serving St. Louis, MO
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Probate Law Center Richard J. Keyes, PC
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You need to see an attorney to file a partition lawsuit. This would allow the house to be sold, either on the courthouse steps by a sheriff's sale and an agreement between the owners.
Answered on Jan 28th, 2013 at 10:25 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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You will have to bring in all the paperwork and deeds in order to allow an opinion to be formed. Depending on how the property is titled the you may, or may not, be able to do anything.
Answered on Jan 25th, 2013 at 2:15 PM
Unfortunately, the lender is not bound by any agreement between you and your former girlfriend. Even if you deeded your 50% ownership to someone else, you would still be responsible under the promissory note to the lender. The only things to do are to approach the lender to settle the problem, force a sale of the home (if it has not been sold or foreclosed) and work to rehabilitate your credit.
Answered on Jan 25th, 2013 at 2:14 PM
Estate Planning Attorney serving Wilmington, DE
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Reger Rizzo & Darnall, LLP
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You would have to sell or refinance if she agrees and she is approved for mortgage with deed just in her name.
Answered on Jan 25th, 2013 at 2:14 PM