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A friend of mine bought some property years ago and there is a deed of trust on it and my name is on it. I had no idea that this was done, I didn't do it. So how do I get my name off of the deed of trust, so that my friend can sell it. As far as I know the property has been paid for.
A friend of mine bought some property years ago and there is a deed of trust on it and my name is on it. I had no idea that this was done, I didn't do it. So how do I get my name off of the deed of trust, so that my friend can sell it. As far as I know the property has been paid for.
The Deed of Trust exists only to secure the mortgage.
If the property is paid off, your name on the Deed of Trust is a moot point.
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.
That might be the worst thing to do. You'd be giving away any interest in the property for nothing and still be liable for the mortgage, plus a warranty deed guarantees clear title, which you do not have.
The only way to get your name off is to have your girl friend refi the loan in her name. You cannot unilaterally relieve yourself of the debt. Otherwise, you will remain liable for the mortgage should she default.
You need to see a real estate attorney and discuss your rights and liabilities, and be sure to have copies of any documents you signed as those should answer all of your questions.
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.
Thank you.
The question is are you on the NOTE? i.e. Were your credit, income and assets used in qualifying for the loan? If the answer is 'yes', then your only option is a full blown refinance and your GF would have to qualify for the new loan on her own.
Folks, this newbie poster bumped a four year old thread, and has her answer already:
Quote:
Originally Posted by Debylk
A friend of mine bought some property years ago and there is a deed of trust on it and my name is on it. I had no idea that this was done, I didn't do it. So how do I get my name off of the deed of trust, so that my friend can sell it. As far as I know the property has been paid for.
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