How do I remove my name off Deed of Trust? (loan, real estate)
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Me and my girlfriend bought a house together. Her name is on the Mortgage and Deed only. But my both our names are on the Deed of Trust. Now that we broke up, and I moved out of the house. She is going to keep it. But how do I remove my name off the Deed of Trust.
I went down to the county clerk office and they told me they couldn't do anything and that they only hold the records and said I needed to see a bank. So we went to the bank and they informed us that we may need to refinance the house and then told us to go to the title company. Which then told us that we need a lawyer. Basically getting nowhere and this is so frustrating. I just need my name removed from the Deed of Trust. What's the most easiest and quickest way to do this? We also went to the bank again and they told us to go back to the county clerk office and ask to fill out a Warranty Deed for a home form, sign it and have it them notarize it right there. But I'm not even sure if this will work as I would hate to drive all the way down there again for them to tell me they can't do anything. Sigh.
If anyone has any information or could point me in the right direction. I'd appreciate it.
Only way to remove a name from a deed is to refinance
edit: you might be able to quitclaim deed to the person wanting to keep the property. Attorney would have to prepare this and then the title co would do the rest. Check that out.
Whoever financed the property placed you on the DoT and they probably did that based on both your income along with the income of your girlfriend. Without other information, it seems that the only other option is refinance. However, that leaves your girlfriend trying to qualify for the loan with only her income.
I don't want to sound cynical but the bad thing is that, as it exists now, you're credit is at risk if your girlfriend defaults. The good thing is that half the house is your after it's paid off because your name will be on the final deed as well as your girlfriend's.
BTW, I'm no lawyer or even a real estate expert but I recently sold a house under a DoT.
By signing the Deed of Trust you basically consigned the loan for the house with your girlfriend. Only way to remove it is to have her get a new loan in only her name. It was not very wise for you to have signed that and not even have your name on the deed to the house but lesson learned eh.
By signing the Deed of Trust you basically consigned the loan for the house with your girlfriend. Only way to remove it is to have her get a new loan in only her name. It was not very wise for you to have signed that and not even have your name on the deed to the house but lesson learned eh.
A difficult lesson to swallow.
Nonetheless to get out of it, she needs a loan in her name. OR you have to sell...otherwise you will be liable for payments if she doesn't qualify on her own.
What about the bank saying that I go down to the county clerk office to fill out a Warranty Deed for the house form in order to get my name off? Will this work, or will it just be a waste of time and gas? Really hope that refinancing isn't the only option.
Anyways I really appreciate the advice and help from you guys. Thanks a lot.
A deed of trust is the Texas version of a mortgage. If you don't believe us, please just google deed of trust. The real questions is did you also sign the promissory note? The deed of trust is gives the bank a security interest in the home and allows them to foreclose on the home if the promissory note isn't paid. The promissory note is the IOU. The easiest way to figure out what you need to do is to go see a lawyer. You may need to pay a few hundred dollars for a consult, but really you have 2 options: 1) Keep running around in circles, or 2) Pay someone to figure out what you need to do. Take the documents with you when you see a lawyer. Your memory of what you signed isn't going to be the greatest, so call the title company and get a copy from them. You will most likely have to have the ex refinance, but the only way to figure that one out is to have someone impartial and who does this for a living look at the actual documents. If you don't know where to start, find a divorce attorney. They will either be able to point you to the correct lawyer or look at the documents quickly and give you an answer. Good luck.
OP should consult a lawyer about this...free consultations. Much better than internet forum folks.
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