If two unmarried people have a joint mortgage and one person has moved out of the house almost 5 years ago.Can the person who moved out make the other person legally sell the home.The other person doesn’t have the finances to re-finance the home.Or,is there another way I can remove my name off the mortgage?
1 Answer from Attorneys
There is a legal way to deal with your situation. You can file a Suit in Partition. If neither owner can buy the other owner out, the Court can appoint a master to sell the property. If the sale brings in more money than is owed on the property, the Court divides the surplus between the parties.If the sale brings less than the amount owed, the individuals on the loan remain liable.If you are in my area you may contact me for a free telephone consultation at 314-727-2822.