Legal Question in Real Estate Law in Texas
Selling my interest in a house purchased w/ fiance'
I purchased a house w/ my fiance' (now, ex-fiance') - I've moved out of the house about a year ago and would like the easiest way to remove my name from the mortgage. Currently, both our names are on the mortgage. I don't want any claim to it. I just want my name removed. Is it possible for me to waive my rights to it and therefore absolve my finanical responsibility or will my ex fiance' have to refinace a new loan and repurchase the home. Please give me options. Thank you.
1 Answer from Attorneys
Re: Selling my interest in a house purchased w/ fiance'
It is possible to have your name removed, but you cannot require it.
First contact the existing lender. Sometimes if there is enough equity in the house, they will permit the removal of one of the mortgagors for little or no cost. They can refuse to do so, however, and you cannot legally force them.
The only other option is refinance.
Before taking action, ask youself if it really matters whether or not your name is on the mortgage if the payments are being timely made, there is equity in the property, and the mortgage company is happy.
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