Legal Question in Real Estate Law in Louisiana
co ownership property
I am gay, and my ex and I bought property together, now, she does not want to be with me and wants to terminate our loan together. I cannot get a loan in just my name, can she do this.
3 Answers from Attorneys
Re: co ownership property
She will have a tough time getting off the loan, but if she can, and she gives you her half of the property, then all is well. Otherwise, Mr. Shelton's answer is appropriate if the mortgage company will not let her off the loan.
Re: co ownership property
Consider a written agreement regarding these details if you can both accomplish that.
Re: co ownership property
You are co-owners and either of you can sue to partition the property, meaning it would be sold, the loan paid and any remaining proceeds divided between the two of you. Otherwise, you both have the right to occupy and use the property.
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