Legal Question in Real Estate Law in Arizona

My ex-wife and I own a home in joint tenancy. I live there and have made all mortgage, maintenance, etc for the last 3 years. Our bank has just offered a loan modification. However, my ex-wife presented me with a notarized letter, asking she be removed from the title and that she has no interest in the property. Is her letter sufficent to remove her from the original loan agreement?


Asked on 9/12/09, 10:03 pm

1 Answer from Attorneys
Donald Scher Donald T. Scher & Associates, P.C.

As long as she is in title, most lenders require her to be on the loan. If she is willing to convey her interest to you, then the loan modification is in fact you refinancing the house, and you will be the sole owner. The lettter does absolutely nothing to remover her from the title or the original loan.

Read more
Answered on 9/17/09, 11:59 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Arizona