Legal Question in Real Estate Law in New York

Re: Shared Property

Not at all likely, without the pther persons fiancing in his/her own name. Thebank has a security interest in the both of you...

Good Luck

RRG

Re: Shared Property

Your ex-partner will probably need to refinance.

I doubt the bank will take your name off the mortgage otherwise.

My comments are based on treating your question as a hypothetical. Accordingly, my comments could be substantially and materially different were I advised of all of the relevant facts and circumstances. My comments are by necessity general in nature, and should not be relied upon in taking or forgoing action in your circumstances without retaining an attorney. In order to fully explore your legal matter, you should meet with me or another attorney and bring to any such meeting all relevant documents and correspondence, and any other relevant facts.

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Re: Shared Property

The other party can request the lender to remove you and look solely to him/her for future payments. The 7-year history might convince the lender to do it. However, the probability is that the lender will not agree, even with the payment history, and want you to stay on the Note since you still have liability in the eyes of the lender if the other party should default. The only other alternative is to have the other party refinance solely in his/her name. This might be a good idea if your name is also on the Deed and should be taken off.