I have been with my abusing bffor 8 years now and we own a house together. If I can persuade my bf is willing to sign, how do I get his name taken off the joint mortgage and house ownership? Obviously I'd start I expect with a conveyancing firm but is there a standard form? How would the bank take him off the mortgage? How much would it all cost?
2006-10-10 08:07:14 · 19 answers · asked by House_Dilemma 1 in Business & Finance ➔ Renting & Real Estate
For clarification: I'm in UK, bf has already said he will sign it over as The deposit and mortgage has been paid entirely by me (as the bank can prove)
2006-10-10 08:30:05 · update #1
go to a lawyer and get in done legally.
2006-10-10 08:09:20 · answer #1 · answered by artful dodger 3 · 0⤊ 0⤋
This will be an expensive process. First hurdle will be the banks, they will check if you are capable of handling the Mortgage on your own and willing to transfer liability just under your name.
Next you would need a solicitor to do this. The solicitor would take care of this. Your partner will need to deal with a seperate solicitor to advice him of the steps he is taking so there is a chance he can always change his mind.
Solicitors charge hefty fees, see if they will do it on a fixed rate for you, otherwise they can charge £200 per hour or more.
2006-10-10 08:21:16 · answer #2 · answered by Logic is Limited to thought 2 · 0⤊ 0⤋
you need to see a solicitor to get a transfer of equity which is in his name to be transfered back to you. Thats the profit catered for but you then have to contact the bank to take on the debt which is half the mortgage I assume, i.e. get the mortgage put in your sole name. Also deeds needs to be changed back into sole name via solicitor. All quite expensive, certainly I would guess about £200 worth of legal work.
2006-10-10 08:13:25 · answer #3 · answered by kaz 2 · 0⤊ 0⤋
If your in the UK, you have to ask your mortgage provider IF they will allow him to be removed from the mortgage. If they say yes, then your partner must agree to be removed. Once you have ticked both of the above boxes, you have to go to a solicitor and arrange a 'Transfer of Equity'. This will remove your partner from the deeds.
With regard to costs, I would guess at between £200 - £300
2006-10-11 00:33:15 · answer #4 · answered by matt g 2 · 0⤊ 0⤋
I went through this with an old GF. In Britain (im not sure where your from) you have to get a re-mortgage under your own name to pay off the joint name motgage. Also a Solicitor is required to change the title deads.
I hope you get your home as i know how difficult this is.
good luck my friend and keep your chin up.
2006-10-10 08:22:10 · answer #5 · answered by Neo 3 · 0⤊ 0⤋
You can do a Quick Deed Claim, and as for the fees it can vary from state to state; ex: $200 or higher. What it does is that he is agreeing to remove his name from the loan and giving full responsibility to you of ownership of the house. Talk with an attorney to find out were you have to file the process in your state. You can also contact the HUD, Housing Urban Development as well to get more info.
2006-10-10 08:11:54 · answer #6 · answered by mmorganloans 2 · 0⤊ 0⤋
For the loan, you must refinance and put only you on the loan. Banks cant just 'remove' a person from the loan.
For the house, in the US we have a thing called "quit claim deed' that people can use.... but if you are refinancing you can just do a standard warranty deed in conjunction with the refi.
2006-10-10 09:38:36 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Quit Claim Deed.
This form needs to be filled out and signed by him in the presence of a notary. It's very quick and simple, and will effectively write him off title of the home.
Do a search for Quit Claim Deeds for your specific state, and you should find info on how to execute it, and the associated fees.
Call your county clerk and recorder's office for more information about recording the deed.
2006-10-10 08:35:49 · answer #8 · answered by Anonymous · 0⤊ 0⤋
I have just had my estranged husband taken off the mortgage, you need to go see a solicitor and they will talk you through it, it's a big headache let the professionals do the work for you on a fixed charge.
2006-10-10 08:22:33 · answer #9 · answered by april 3 · 0⤊ 0⤋
You need a solicitor to draw up the papers to take him off the mortgage / deeds. Costs arounnd 200 quid - or at least did when I got rid of mine!
2006-10-10 08:16:05 · answer #10 · answered by Leiani 3 · 0⤊ 0⤋
1- it is unlikely he will just sign over the house to you unless he is a total moron. All you need to do is have him fill out a new deed conveying the property from him and you, to just you. (you and he both would need to sign it, and have it notarized)
A bank is not likely going to take his name off the mortgage unless you pay them off and refinance.
2- the forms you use depend on the state, you basically just need a deed and any city and state transfer tax forms. Call your county clercks office where you will need to go to record the deed to find out the applicable fees, etc.
2006-10-10 08:11:38 · answer #11 · answered by Anonymous · 1⤊ 0⤋