Legal Question in Real Estate Law in Connecticut
quitclaim to end liability
Suppose I am a co-tennant in a piece of real estate, and the portion of costs (re taxes etc) which I have not paid for the property is approximately equal to the value. Can I quitclaim to the other co-tennant to with certainty end my continuing liability without the other owners permssion ?
1 Answer from Attorneys
Re: quitclaim to end liability
You state that the costs are "taxes etc." So long as your name is not on a mortgage or equity line of credit, if any, and so long as there are no liens or other debt (i.e. utilities) on the property of which you may be responsible for, then you can quitclaim to one of the owners.
However, although it appears you have an agreement with the owner you are quitclaiming your interest to, does that owner realize that he/she would most likely be responsible for your share of the costs in addition to his/her share of the costs, unless the other owner agrees to share these costs?
This is important because the owner who is not giving permission may not agree to share the costs with the owner you are quitclaiming to. This could create a problem.