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I cosigned for a mortgage with someone roughly 9 years ago.

Customer Question
Hello, I cosigned for...

Hello, I cosigned for a mortgage with someone roughly 9 years ago. He subsequently passed away, but his widow and children still live in the home and continues to pay the mortgage. I want to be able to remove my name from the deed and the loan, what are some of the processes that I could do to proceed with this? Thank you!

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

This is in California

Lawyer's Assistant: Has anything been filed or reported?

Not yet, the widow and child have started a Residential Purchase Agreement

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

I don't believe so

Submitted: 7 months ago.Category: Legal
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Answered in 16 minutes by:
12/31/2017
Lawyer: Lori, Attorney replied 7 months ago
Lori
Lori, Attorney
Category: Legal
Satisfied Customers: 2,420
Experience: Attorney with over 25 years experience
Verified

Hello. I will try to assist you today. I have reviewed your situation. I am assuming that you held title to the property as joint tenants (not joint tenants with right of survivorship). Did you put any money in the purchase of the property or pay any of the mortgage payments, maintenance/repairs? Are you looking to recoup anything from the property or just transfer the title to the widow?

If you are just looking to transfer title, you can just quitclaim deed your interest in the property to the widow and obtain a release and indemnification of your obligations under the note and mortgage.

If you did put something into the property, the widow can buy out your interest in exchange for a quitclaim deed of your 1/2 interest in the property with a release and indemnification as to your obligations under the note and mortgage.

Hope that helps. If so, please remember to accept the response.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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