Legal Question in Real Estate Law in District of Columbia
removing a name from a deed
I own a condo with my ex-boyfriend. Given the market, we cannot sell or rent at the ''right'' price. I am not on the mortgage, but I am on the deed. Although I put up all the money for the mortgage, I am willing to walk away given it is not an amicable relationship. What can I do to remove my name from the deed? Do I need to get his permission to do so?
1 Answer from Attorneys
Re: removing a name from a deed
Having your name on the deed means you have an ownership interest in the condo, subject to the mortgage. You indicate you are not responsible for the mortgage. You could deed your interest to your ex-boyfriend, asuming he would take it. This would give him flexibility to negotiate with the lender or others without your consent. I suggest you review this with an attorney--even though you have not seen the "right" price, some income may be beter than none.
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