Legal Question in Real Estate Law in Maryland
I have a property in Maryland. 3 years ago I added a business partners name to the title/Deed. He helped with 1/2 of the mortgage and expenses for 1 year. The partner and I decided he would not be 1/2 responsible after the first year. It was agreed I would take over full responsibilities. My name only is on the Mortgage. My question is . what do I need to do to remove his name from the title/deed? Must I go through a lawyer again. The lawyer fee is 750 and I think the tax on the 250,000 property would be about 2,000.
Asked on 3/16/11, 8:51 am
1 Answer from Attorneys
Phillip M. Cook
Cook Legal Services, LLC
You can file a "Quitclaim Deed" in the land records that has been signed by your business partner. $750 is a small price to pay for peace of mind.
Best of luck.
Answered on 3/16/11, 2:44 pm