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Whether there's been a death, divorce or change of personal circumstances, there may be a reason for you to remove a name from a property deed. This process is done using a deed of conveyance, which is either in the form of a quitclaim deed or a warranty deed.
You and the lender both sign the ?Quit Claim.? The Quit Claim states that you agree to transfer the ownership of your property to the lender and the lender agrees to release you from any debt owed. The Quit Claim should clearly state that your debt is cancelled.
Process Of Removing Name From Title Deed The cost associated with this process will depend on how much your lawyer charges you and where you live in Canada. It's likely that you could pay anywhere from $350 ? $500 or more to complete this process so be sure to budget ingly.
NounLaw. a transfer of all one's interest, as in a parcel of real estate, especially without a warranty of title.
Removing someone from a property title in Ontario requires a transfer of title or transfer of ownership. This process involves transferring ownership rights to the new owners, effectively removing the unwanted individual(s) from the title.