Legal Question in Real Estate Law in Illinois
Breaking contract from title on a town home
I have recently purchased a new town home with a boyfriend. As you'd guess it didn't work out. I have made a choice to move out and get as far away as possible from him.
I am on the title but not on the loan. Does that leave me in really bad position. Please help. If you can offer any advice or what steps I need to take I would greatly appreciate it.
1 Answer from Attorneys
Re: Breaking contract from title on a town home
You'll want to execute a quit claim deed, which will transfer your interest in the property to your ex. You can do this in exchange for payment of whatever money you put into this. You will want to document this exchange in a writing too, so that you don't have to deal with any repercussions down the road. Most attorneys can help you with this, it is not a difficult or complicated process and it would probably be in your best interest to have an attorney's assistance so that everything is done correctly and your name is not associated with the property.