Legal Question in Real Estate Law in Florida
Refinance to remove someone from title
I own property ( joint tenancy) with my ex boyfriend in Ft. Myers.The property is rented. I would like to refinance to lower monthly payments. I've attempted to contact him to get him to quit claim the property but he has not responded in over three years. Can I refinance without him? Can I remove him from the title by refinancing? I cannot partition to sell since the property does not have sufficient equity in the current real estate market. Is there another way to remove him from the title? Thanks MT
1 Answer from Attorneys
Re: removing a co-owner from real estate title
No. However, equity is not required in a partition -- a co-owner ordinarily can purchase the other co-owner's interest for the value of that interest above the lien - i.e., refinance.