Co-ownership

[c_E_p_2251993]

What is the name of your state? Georgia
I purchased a house last year, with a friend. We are co-owners of the house and the property. I would like to remove my name from the deed and the mortgage. What options do I have?

 

[PayrollHRGuy]

Unless the friend is able and willing to get a mortgage on their own you have almost no options. If they can you sell your portion of the house and they buy and finance it.

 

[Whoops2u]

What is the name of your state? Georgia
I purchased a house last year, with a friend. We are co-owners of the house and the property. I would like to remove my name from the deed and the mortgage. What options do I have?

Do you have any written agreement with your friend that deals with your situation?

If not, your options are severely limited. Negotiate or sue for partition. You won't remove your name from the mortgage by law by suing, but you might get enough in the forced sale of the house to cover it. Because Georgia is a recourse state, you will be liable for any deficiency of the amount realized and debt remaining.

 

[sanders77032]

Maybe it would be better if you consult a lawyer.