Co-ownership breakup blues

[whiskerstruth]

California
My ex-bf and I bought a house together in pricey San Francisco. We have since broken up and I moved out, however my name is still on the mortgage and title. The sale of his loft allowed us to buy the house. He has always handled all of the paperwork of the home except for my signatures where required and my payments into the mortgage and therefore I now have zero access to equity except through him. I want him to remove my name from the mortgage and title so that I can move on with my life financially. He is in no hurry to do this and in the mean time I am dependent on him for any financial assistance. I have never owned a home before and know nothing about how they are financed, bought or sold and feel concerned about my status as co-owner of a house that I do not live in. I want to know if there is anything I can do legally to get my name off of the mortgage and title for this house or if this is strictly based on his whim at this point.

Feeling helpless in San FranciscoWhat is the name of your state?

[JETX]

Originally Posted by whiskerstruth

I want him to remove my name from the mortgage

He cannot do that. You will remain liable until one of the following occurs:
1) The property is sold and the mortgage paid, or
2) He refinances and pays off the existing mortgage, or
3) The mortgage company agrees to terminate your obligation (very unlikely).

and title

You can do this by signing a notarized 'quit claim' releasing any rights of ownership to the property.

There is NO obligation for him to do anything.

[whiskerstruth]

thanks JetX, in writing out the question, I guess it helps me come to terms with what you've said which I know is true, that until he refinances or sells, my name is on mortgage and title. I don't see any advantage in removing myself from the title as long as my name is on the mortgage, do you?

whiskerstruth

[JETX]

Originally Posted by whiskerstruth

I don't see any advantage in removing myself from the title as long as my name is on the mortgage, do you?

No, and I would strongly suggest you not as you would have no ownership and still the financial obligation.
Why not just move back into the house? Bring two dogs, three cats and maybe a few homeless folks to sleep on the floor?? Heck, you might even open a homeless shelter in teh living room!!! Wanna' bet it wouldn't take long for him to wake up and smell the coffee??

[whiskerstruth]

Originally Posted by JETX

Why not just move back into the house? Bring two dogs, three cats and maybe a few homeless folks to sleep on the floor?? Heck, you might even open a homeless shelter in teh living room!!! Wanna' bet it wouldn't take long for him to wake up and smell the coffee??

Hmm, not a bad idea. Picturing that cheers me up anyway ! thanks again.

[FarmerJ]

You allways have the option of speaking to a real estate atty to learn exactly what would be involved in starting a partition suit asking the courts to intervene and require you to be bought out. BTW partition suit is going to cost you BUT you would be off the title and mortgage If your sucessful.

[whiskerstruth]

That is very good to know, about the partition suit possibility. I don't know that I'm there yet but want to have some ideas in mind for somewhere down the road if no progress is made in resolution between me and the ex in a year or so. Your input is very much appreciated!

[cindylu]

[font="Arial"]wiskerstruth, I did the exact thing you are going through. I got an atty, it has been almost 2 years. I'm still not off title. We did arbitration, after 30 days it turned into judgement. Part of the judgement is monetary. I no longer have an atty. I'm looking for now with how to get my $$ from his bank. He is he-- bent on not letting me any of the house. He's letting go into foreclosure. I'm trying to work with the mortgage company to let me have first oppty to assume loan. No luck so far. My credit has lots of lates, it has started foreclosure proceedings. It would have been easier if we were married, it's cut and dry that way. I like to homeless shelter in the living room idea. I'm gonna try something. Keep in touch.

[whiskerstruth]

Originally Posted by cindylu

[font="Arial"]wiskerstruth, I did the exact thing you are going through. I got an atty, it has been almost 2 years. I'm still not off title. We did arbitration, after 30 days it turned into judgement. Part of the judgement is monetary. I no longer have an atty. I'm looking for now with how to get my $$ from his bank. He is he-- bent on not letting me any of the house. He's letting go into foreclosure. I'm trying to work with the mortgage company to let me have first oppty to assume loan. No luck so far. My credit has lots of lates, it has started foreclosure proceedings. It would have been easier if we were married, it's cut and dry that way. I like to homeless shelter in the living room idea. I'm gonna try something. Keep in touch.

Hi cindylu,

I must say it is nice to communicate with someone else who's going through a similar situation. I agree that not being married makes it more difficult to say who is owed what. I have not even asked for any money, I just want my name off of the loans so that I can borrow money on my own, like to purchase something else for example. Here we are in one of the best buying environments in years and I can't qualify for anything because of my name on a house that I am not living in or able to access the equity from. Oh well, lessons have been learned. Good luck to you with your efforts to keep the house. It seems very wrong that you should have to go into foreclosure without your consent. Thanks for writing, whiskerstruth.