Legal Question in Wills and Trusts in Georgia

No. The ones who are buying out the share of the third can both be on t he deed. However, the mortgage lender is going to want all of the remaining property owners on the mortgage. Just one person cannot be on the loan because he or she will have no authority to make a mortgage on the property. The only way this would be different is if the borrower is taking out his or her own personal loan which is not tied to the property. In that case, the borrower would have a 2/3rd interest in the property because he/she is buying the share of the other who does not want it. However, both of the two that want it could be on the property.

I suggest that you get a real estate lawyer involved to make sure that the interest of the third person is properly conveyed and a new deed prepared.