Transfer Of Deed

koenig04 profile photo

I have a co-ownership of a house that me and a friend bought together. Both our names are on the mortgage, but I am planning on moving to a different state. Another friend wants to buy me out of my half. How can we do this without refinancing? Whats the cheapest and easiest way of doing this? Thanks for your help! confused

Comments(2)

  • jorge12121st July, 2003

    in terms of selling your share of the property you can simply quit claim your interest to your friend for whatever price the two of you agree to. this will take care of the title problem (ownership).
    this will not get you off the mortgage, however, you can only do that by either refinancing or, if you loan is assumable, allowing your bank to substitute the new purchaser as a co-maker.

  • koenig0421st July, 2003

    Thanks for the reply, it was very helpfull

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