Removing a name on the deed?

[indy.2011]

What is the name of your state (only U.S. law)? Indiana

I am asking this question for my brother in law so I do not have a lot of details. Here are the basics.

About 3 years ago my soon to be brother in law bought a house with then fiance. He financed the house but her parents co-signed. Her name is not on the loan, however, her name is on the deed.

About a year ago she decided to end the relationship. Mutual fault! He was wanting to sell the house but she will not sign off on it.

How can he remove her name on the deed so he can either sell the house or continue to live there and not build up her equity if he decides to sell down the road?

 

[tranquility]

Sigh. Sticky time. Here's an entire message on the same issue just a week or so ago. (The facts are different, but close enough.)

We need a sticky on this as any search of the forums would show. My goodness, a (usually) young person taking full responsibility for a property which is the largest purchase s/he ever made while irrevocably giving 1/2 of the benefits to the partner happens so much there should be a class in high school or something telling them not to do it.

Without even reading past the quoted portion, here's the scoop. The OP is hosed. The process of law will take thousands, if not tens of thousands of dollars and will most probably result in 1/2 split of the proceeds of a bargain sale on the courthouse steps. (Unless one can refinance the other off title.) I believe the lien would be paid first with any deficiency assessed against the OP. (Is the loan recourse?) It is almost always better to negotiate as the OP can get the same result (absent attorney fees) from just stopping to pay the mortgage.

In this case it is a little different from the normal as there seems there is some equity in the property. The fight is not just the hurt, but the help.

The best strategy for the OP is to follow the money. Many people let pride, or hopes, or a deep desire to prevent an ex from benefiting from something more than they, prevent people from doing that.

If in scenario A, OP makes $10 and EX makes $5 and in scenario B OP makes $20 and EX makes $25, which would the OP take?

Negotiate out of this thing. Once it gets all legal-like, the money will flow from the OP's wallet into the trough of argument. The pigs of lawyers, inefficiency of sale process and opportunity costs will eat their fill before the trough is split between the OP and EX according to the court's decision. Neither of the parties are completely satisfied with the court's decision. Ever.

 

[HomeGuru]

What is the name of your state (only U.S. law)? Indiana

I am asking this question for my brother in law so I do not have a lot of details. Here are the basics.

About 3 years ago my soon to be brother in law bought a house with then fiance. He financed the house but her parents co-signed. Her name is not on the loan, however, her name is on the deed.

About a year ago she decided to end the relationship. Mutual fault! He was wanting to sell the house but she will not sign off on it.

How can he remove her name on the deed so he can either sell the house or continue to live there and not build up her equity if he decides to sell down the road?

**A: he can offer to buy her out. Once that is done, then he can sell or live there.