Legal Question in Real Estate Law in Georgia
My son's name is on my mortgage. He has married and wants to be removed from the mortgage.
The mortgage company told me I would need to assume my mortgageo remove hime but can't I do a Quit Claim to have him removed?
Thank you,
3 Answers from Attorneys
Of course not. If one could unilaterally get out of liability just by doing a quit claim deed, many people would be doing it. The lender has to agree. You can either deal with them in allowing him to be released, if they believe you alone are a good credit risk, or refinance in your name only with another lender.
No. You and he have no legal right to break your contract with the lender. He promised to pay. He can't break the promise without the lender's consent.
The mortgage company is correct. If you want to assume the mortgage (and the lender is willing to allow this based on credit risk) then that is the way you can remove him.
No, you cannot file a "quit claim" to have him removed. And I hope you're not doing "quit claims" without hiring an attorney.
Actually, nevermind, I hope you are doing it yourself, so when you royally screw up you'll come begging for me, and when you do, I'll charge you even more money than I would have originally. Because now you'll be desperate.
Good Luck!
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