My ex-boyfriend and I bought a house together in 1995. He is giving me money if I sigh off.
2007-10-12 00:47:31 · 3 answers · asked by bingowomen70 1 in Business & Finance ➔ Personal Finance
Do not sign a quit claim deed. As mentioned, that will just give up your rights to the property but will not release you from the responsibility of paying for it. If you go to buy your own house you may be turned down because you are already on that other mortgage with your boyfriend. Force him to refinance it in his name only.
2007-10-12 07:06:49 · answer #1 · answered by HEATHER 6 · 0⤊ 0⤋
You'll execute a deed transferring your interest to him. Normally this is done with a quitclaim deed.
Make SURE that you are off the hook for any mortgage before doing that. If you don't, you'll have surrendered your right to the property but still be obligaged for the mortgage payments. Generally the other owner must refinance the mortgage in their name alone to get you off the hook.
2007-10-12 08:13:36 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
The deed needs to be tranferred to him only. Get in touch with a lawyer.
2007-10-12 07:52:34 · answer #3 · answered by Anonymous · 0⤊ 0⤋