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I would like to remove my name from the title of my property…

Customer Question
I would like to...

I would like to remove my name from the title of my property or give my interest to my wife but there is a line of credit on it. Can this be done

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

Bc canada

Lawyer's Assistant: Has any paperwork been filed?

No

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Can this be done and if so. how

Submitted: 10 months ago.Category: Canada Law
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Answered in 5 minutes by:
10/6/2017
Lawyer: Debra, Lawyer replied 10 months ago
Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 106,052
Experience: Lawyer
Verified

Hello! My name is Debra (formerly known as Legal Ease). Thank you for your question. I'm reviewing it now, and will post back again shortly.

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Lawyer: Debra, Lawyer replied 10 months ago

Have you spoken to the bank?

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Customer reply replied 10 months ago
not yet
Lawyer: Debra, Lawyer replied 10 months ago

It is only possible if the bank allows it.

They may. It will depend on the amount of equity on the property and your wife's income.

If they agree then you simply need a real estate lawyer to do that transfer and co-ordinate with the bank.

It will not be complicated or expensive.

If they bank says no then the LOC has to be fully paid off first.

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

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