Legal Question in Real Estate Law in Pennsylvania

Re: Two names on mortgage getting one name off.

When 2 people buy a property and get a mortgage on the property too, one name cannot be removed without the written consent of the mortgage holder. If a deed were to remove the name of one of the owners, the owners would be in default of the mortgage, and the mortgage holder could foreclose on the property.

If the ex-boyfriend agrees to sign a deed without being paid for his share, you would still need the written consent of the mortgage holder. If the ex-boyfriend does not agree to sign a deed without being paid, you would have to apply for a new mortgage in order to pay off the old mortgage and pay the ex-boyfriend for his share in the property.

There is no abandonment that would prevent the co-owner from claiming his interest in the property. However, you may sue [action in partition] to have court order a sale of the property with the proceeds of sale to be divided between you. The costs of going to court and the costs of the sale may use up all of the equity in the property so that there will be nothing left to divide.

This response is not legal advice, since I do not have all of the information that would be required, and I do not have a representation agreement with you.

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