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Reload this Page Deed in both names/mortgage in my name

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  #1  
Old 01-20-2006, 02:00 PM
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Join Date: Jan 2006
Location: minnesota
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Deed in both names/mortgage in my name

What is the name of your state? Minnesota

Hi, I have been in a relationship with a guy for 6 years. We have a house together. He owned the property before we moved in together, upon moving in together, we moved a new house on the property. Because of his bad credit history, the deed to the property was put in both of our names and the mortgage is in my name.

I want out of this relationship, due to his alcoholism. We are not married.

What am I entitled to? What should I do to make this as painless as possible? His credit is still bad. We have been in this housing situation for 3 years. Payments are made from auto withdrawl of my checking account.

Thanks,
Shelly
  #2  
Old 01-20-2006, 02:26 PM
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Join Date: Aug 2005
Location: St. Odo of Cluny Parish
Posts: 29,056
Quote:
Originally Posted by miche72
What is the name of your state? Minnesota

Hi, I have been in a relationship with a guy for 6 years. We have a house together. He owned the property before we moved in together, upon moving in together, we moved a new house on the property. Because of his bad credit history, the deed to the property was put in both of our names and the mortgage is in my name.

I want out of this relationship, due to his alcoholism. We are not married.

What am I entitled to? What should I do to make this as painless as possible? His credit is still bad. We have been in this housing situation for 3 years. Payments are made from auto withdrawl of my checking account.

Thanks,
Shelly

If he will not buy you out, then you will have to have a parition (i.e., forced sale) lawsuit.
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  #3  
Old 01-20-2006, 07:33 PM
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What do I do first?

What do I need to do to get this process started? Get a lawyer? Sorry, if it is a dumb question.... I really need someone to tell me what to do!
  #4  
Old 01-21-2006, 09:42 AM
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Join Date: Aug 2005
Location: St. Odo of Cluny Parish
Posts: 29,056
Quote:
Originally Posted by miche72
What do I need to do to get this process started? Get a lawyer? Sorry, if it is a dumb question.... I really need someone to tell me what to do!
Not a dumb question.

The answer is get a lawyer.
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  #5  
Old 01-24-2006, 07:34 PM
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Join Date: Dec 2005
Posts: 79

Re:

See if he will willingly Quit Claim his "interest" in the property if you want to stay in the property. If not, refinance and buy him out. Make sure you let your broker know if you do intend to buy him out as they will be able to co-ordinate with the CEA and have the required paperwork ready for BOTH of you to sign at the closing table. Good luck.
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