QuitClaim or Assumption

[mlittle24]

Co-owner wants to take over house/mortgage, and I do not object. However, I would like to have my name removed from any attachment to the house/deed/whatever... what's the best method for releasing myself from any obligations and attachments to the mortgage/house/dee/etc.?

 

[HomeGuru]

Co-owner wants to take over house/mortgage, and I do not object. However, I would like to have my name removed from any attachment to the house/deed/whatever... what's the best method for releasing myself from any obligations and and attachments to the mortgage/house/dee/etc.?

My response: Easy, have the person buy out your share and refinance the mortgage in their name only.

 

[mlittle24]

...in response

...a understand that is a possiblity, but I not sure the "other half" can qualify for a loan. Is there a quicker way or something I can submit to the mortgage company that will expedite the action?

 

[HomeGuru]

No. If he can't quaify for the mortgage then sell the property.