Legal Question in Real Estate Law in South Carolina
Real Estate question
I am on a loan with my ex girlfriend and the value of the home is less then what I owe. I can't refinance to get her name off the loan, but would it be legal for us to sell the house and me buy it back by myself if I qualify?
1 Answer from Attorneys
Re: Real Estate question
You didn't really explain in any detail what your doing, so I really can't answer your question. As a general rule, there is nothing illegal about selling your home and there is nothing illegal about buy a home that you previously owned. Bear in mind that if you sell your home then the bank must be paid what they are owed from the sale. The safest approach to real estate transactions is Disclosure. Meaning as long as you are totally up front and honest with everyone concerned, then you are usually not doing anything wrong. However, I have no idea exactly what you have in mind so I don't have an opinion on your plans. I would suggest calling an attorney and discussing it in detail.
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