Separate Name Deed For Free

The name can be removed from the deed of your house and be replaced with the relevant beneficiaries. The easiest way to remove the name of a co-owner from the deed of your house is by executing a release deed or relinquishment deed in your favour. This will make you the absolute owner of the property.

You are not the property owner when your name appears on the mortgage but not on the deed. Your role on the mortgage is merely that of a co-signer. Because your name appears on the mortgage, you are responsible for making the payments on the loan, just like the property owner.

There are two ways to remove an ex-spouse from a loan: Release and refinance. A lender may release the ex-spouse from the loan. If presented with a divorce decree and a quitclaim deed, many lenders will remove the ex-spouse and leave the loan in the name of one spouse only.

A quitclaim deed does not make any promises that the seller owns the property or has clear title to it. A quitclaim deed only passes the interest in the property that the seller actually has, without any guarantee. The seller is not responsible to the buyer for a defect in the title.

You can simply utilize a quitclaim deed, a deed of conveyance, or an interspousal transfer deed, depending on your situation. Here, you are making the conscious decision to release your interest in a property and transfer that interest to another individual, to the remaining owner(s), or into a Trust, for instance.

Partition through Court Before filing a partition suit, a legal notice must be served to all the co-owners specifying their interest in the property, their share, and the action to be taken and try to settle the dispute. Even after this, if the dispute is not settled, then a civil suit is filed before the Court.

In case of mutual consent Irrespective of whether the property is being divided amongst family members, business associates, friends, or others, a partition deed must be signed between the co-owners (co-owners can be more than two). The property is divided based on an investment, a will, or a mutual agreement.