Legal Question in Real Estate Law in Georgia
Unmarried Couple Severance of Purchased Property
In Georgia, if an unmarried couple purchased a home and one of the parties does not pay his share of the mortgage for more than 3 years. How do you legally remove him from the loan, deed, etc. and stop entrance to said property?
2 Answers from Attorneys
Re: Unmarried Couple Severance of Purchased Property
You can't just "remove" someone from the documents and keep them from entering property they own. Agree to sell and split any net proceeds, or agree to refinance in your name only (ie, buy out his half). If you can't agree, you can file a partition action but that is likely far less attractive, and more expensive, than simply agreeing on a resolution. This is the risk one takes by entering into such an arrangement.
Re: Unmarried Couple Severance of Purchased Property
In addition to the information that you were given, you could try to buy out the other party's interest in exchange for a his signature on a quit claim deed. By doing that, you will be the sole property owner, but can avoid refinancing the property. However, the other party may not agree to it, since he will still be liable on the mortgage. If you refinance, make sure that the property is transferred to you as sole owner.
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