Legal Question in Wills and Trusts in Florida
transfer of equity
I have a property in florida and my wife and i have separated. It is a 4 way mortgage with another couple and i wish to take only her name off the mortgage/deeds. She is willing to do this. What steps do i have to take to complete this transfer and how much is it likely to cost approximately??
3 Answers from Attorneys
Re: transfer of equity
You may have to refinance if the lender will not agree. A new deed will have to be filed.
Re: transfer of equity
She may come off the deed by signing and recording a deed to you (or whomever). It should cost a couple of hundred dollars or so. However, she may not come off the mortgage without the consent of the mortgage holder(s). That would also require preparation, execution, and recording of an additional document.
Re: transfer of equity
This would require a new Note and Mortgage with just the names of three people. I would suggest you e-mail me your contact information to discuss this situation and the potential cost of revising the mortgage and deed to the property
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