Legal Question in Real Estate Law in Iowa
???? Don't know what to do.
My now ex-boyfriend and I bought a house together in 2005. We put our house on the market and we haven't had any bids. So far, we are still living in the house because we are both making the payments. It is getting to the point that we cannot stand to be in the same house with each other. He told me that he wants to quit making the house payments. I cannot make the house payments myself. If it matters at all, he is listed on the mortgage first. Is it possible for me to sign a quit deed? We are listed on the mortgage as him AND I. If not a quit deed, what are my options?
1 Answer from Attorneys
Re: ???? Don't know what to do.
It does not matter at all which name is first on the mortgage. You can sign a quit claim deed, but it would be a very, very, very VERY bad idea because, 1)you will no longer have any ownership interest in the house, 2) you will still owe the money, and 3) ex is not required to accept it. I mentioned that would be a bad idea, right?
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