Your name can be removed from the title by you executing a new deed, conveying your interest to the friend, but you can't get off of the debt unless the lender releases you. If your friend has strong credit, and/or the property has substantial equity, the lender might be willing to do so. If the debt is close to the property value, it will be hard to get the lender to release you. Start by checking with the lender...it never hurts to ask. Good luck.
Answered on Feb 06th, 2016 at 10:30 AM