Moved from a shared home. Looking to sell but other owner is not willing and said I can't do it unless they agree. Is that true? I want my name off the mortgage and split half of the equity but was told none of it can happen unless he agrees and said that I can't do that.
There are many variables involved. First and foremost, it depends on how you hold title. Presumably this is not a spouse? As such, if you, if it is indeed a non-spouse, and title is held as "joint tenants with rights of survivorship" or "tenants in common" then you can transfer your ownership interest, severing the existing tenancy, absent the other person's signature/permission....with the following caveat...the lender's lien on the property. The lender MUST be informed as to the transfer; concede to the transfer; allow the residual owner to assume the existing mortgage based on his/her sole credit worthiness. Presumably, an agreement by and between you and the residual owner must be agreed to whereby part of the proceeds you receive from your transfer would need to be paid towards a principal portion of the loan; effectuating a significant principal reduction. More facts are required to give a definitive response. Notwithstanding, this is the generic answer to your query as to how your intended goal may be achieved. Good luck to you.
FOR LEGAL ADVICE CONTACT AN ATTORNEY OF YOUR CHOOSING AND RETAIN THEIR SERVICES. Responses to postings here are for informational purposes only and are NOT legal advice. The information provided here does not constitute legal advice and this answer is based solely upon the information included in the question posed. NO ATTORNEY CLIENT RELATIONSHIP IS ESTABLISHED BY THE PROVIDING OF THE INFORMATION IN THIS RESPONSE
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline