House bought 2 years ago, both names on the mortgage? Insurance in both names, full co-owners.
2007-03-28 09:32:11 · 3 answers · asked by Anonymous in Family & Relationships ➔ Marriage & Divorce
Yes, but you may be risking losing money. You will have to consult about this with a financial advior or an attorney. It works just as if you would want to buy out your business partner's portion of the business. You will have to see if they are interested in selling their share of the home and what they are looking for as far as payment. Their decision may be effected by the market in the area and by the potential value growth of the property! There are many areas to look into with this matter, as a large amount of money is involved.
2007-03-28 09:40:08 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If the co-owner is willing, its easily done. Just go to the bank and sign over the mortage to you.
Its like when you buy a brand new car, and have a 48 month payment on it, and you pay it for 36 months, but then decide you want a new car, you put an add in the paper for someone to finish paying your lease and then the car is theirs. Its just signing over the lease, but in this case the mortage.
2007-03-28 09:37:56 · answer #2 · answered by Zenthae 4 · 0⤊ 0⤋
It's only possible if they want to sell you their part, otherwise your just out of luck.
2007-03-28 09:36:49 · answer #3 · answered by Green eyed girl 3 · 0⤊ 0⤋