Wednesday, May 17, 2017

Joint owned land. Remove one owner before obtaining a mortgage?

I own a piece of land jointly with my ex. I will be obtaining a loan against the property to pay off her interest in the matter and remove her from the deed. She agrees completely with this. Is there a best way to do this? I was going to have my attorney prepare a contract for her to be removed from the deed in exchange for a sum of money to be paid within 90 days or so. I should mention my ex and I are on very good terms and there's plenty of mutual trust here and she may just remove herself from the deed on faith but I want to ensure she is protected in this matter.

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