Legal Question in Real Estate Law in North Carolina
Property Purchased Joint Tenants in Common. One partner has agreed to hand over property (quitclaim) once the property is refinanced in the other tenants sole name (mortgage). Has been 18 months now and nothing has been resolved. What are the options to get off the deed (mortgage) if one partner is non cooperative? Tenant who agreed to refinance has not done so successfully in over one year and refuses to let other tenant refinance and take over property. Only the tenant who agreed to refinance lives at the property in question.
1 Answer from Attorneys
I am a little confused as the question you asked seems to contradict some of the statements you made. If you are the other partner and you want your name off the deed, then you simply need to deed your interest to the other partner.
If you want your name off of the mortgage, that will require a refinance or an agreement from the bank that they will let you off the hook...which you will never get.
I hope this answered your question.
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