Legal Advise Please

[TDOWN]

What is the name of your state?KY

I own a home with an ex-boyfriend, while we were together for 2 years in this new home I provided all of the interior updates and exterior, he made all of the mortgage payments. We split up almost 2 years ago, he did not want to sell and I did not want to sign a quit claim deed, now he is in a financial bind, his parents are wanting me to sign a pre-intent letter stating that I will agree to a quit claim so they can refinance the home with their son. If I do this I am under the assumption that this will not come off of my credit report and if any payments should be missed that I could still be legally bound to the original contract. Is this true? What would be the best step for me to take to clear my name completely and dissolve this contract and leave me in good credit standing? Please help!

[shortbus]

A quitclaim transfers your interest in the house to the ex. Then he owns the whole thing, you own nothing. If your name isn't on the loan, it won't affect your credit.

However, why do they think you should just GIVE him the property? It's yours! It's worth money! Either he needs to buy your share at a fair price, or you can get a lawyer and force an action for partition (court-ordered sale).

[nightrome2004]

By you signing a quick claim deed it release your interest in the property, but it doesn't relieve you of your mortgage obligation on a mortgage. You will be still held responsible for mortgage payments if things go wrong. Get your name off house and mortgage.

[HomeGuru]

Originally Posted by TDOWN

What is the name of your state?KY

I own a home with an ex-boyfriend, while we were together for 2 years in this new home I provided all of the interior updates and exterior, he made all of the mortgage payments. We split up almost 2 years ago, he did not want to sell and I did not want to sign a quit claim deed, now he is in a financial bind, his parents are wanting me to sign a pre-intent letter stating that I will agree to a quit claim so they can refinance the home with their son. If I do this I am under the assumption that this will not come off of my credit report and if any payments should be missed that I could still be legally bound to the original contract. Is this true? What would be the best step for me to take to clear my name completely and dissolve this contract and leave me in good credit standing? Please help!

**A: you need an attorney to help you protect your interest.