Legal Question in Real Estate Law in Georgia

Re: Real estate title question

As you are likely assuming, it is generally a huge mistake to get yourself into a situation where someone owns a partial interest in your property with no liability for the loan (thus, she is not your "co-borrower"). The exception is a spouse, and that does not appear to be the case. Assuming you amend the contract and close, she can theoretically sue you for breach of an agreement to go into this together, but you may have a defense that she did not act in good faith or hold up her and of the bargain by trying to get a loan. All of this should have been put down in an agreement between you two prior to signing a contract, and you should have applied for a joint loan if you wanted a partnership. Since this is a business deal, you need to treat it like a business. See a RE lawyer to review the paperwork, make any changes to the purchase agreement (by agreement with seller), and review potential liability to her. The lawyer may also write a letter telling her she is either out of luck, or whst she needs to do to get back in the deal. If this is a personal relationship between you two, then good luck.

Re: Real estate title question

You should consult with a local real estate attorney. Since your "co-borrower" is not holding up her end of the bargain, you should look into re-doing the sales contract to leave her out of it. You should get something in writing, since she may looking for a way to get something for nothing. You should also consider just letting the contract expire and then entering into a new one with the seller.