Legal Question in Real Estate Law in Maryland
Wants Out
I own a house with another person. This person left 5 months ago and has not paid anything towards the house since they left. Is there anyway I can recover this money? And what is the best way to go about getting the other persons name off? There is no equity in the house since it was purchased October 2007. Selling the house is not an option.
1 Answer from Attorneys
Re: Wants Out
The easiest and cleanest way to get the other person off of record title to the property is to refinance the property. Since you claim there is no equity in the property, equitable division of the asset is not an issue between the parties. However, you must understand that refinancing the property into your own name and taking the other person off of title (deed will need to be signed by the other person to transfer to your sole name) will result in you being solely responsible for all of the refinanced debt and other obligations incurred with regard to the property.
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