Q: Real estate lien Colorado.
Tenants in Common. 50/50 ownership. Colorado. We bought a home to fix and live. We had a falling out and she wants no reasonable resolution only to cause me as much grief as possible. My question is can I give her what she wants by signing over my portion of the home so she is full owner, and then lien the home for all of the labor and materials exceeding $100k? I am fully willing to sell the house and split proceeds but she won't have that. If we go to court for forced partition we both lose money. I don't want or need the house anymore I just want to recoup my cost and give her what she wants and that's control of the house.
A: You can sign over your ownership interest, but the lien may not go away. If the lien is only on the property you can be excused from the lien provided you make a valid transfer and give the creditor notice. However, no creditor that I've ever seen attaches a lien without adding a proviso that the loan also attaches to the debtor's other property. You will need an attorney to review the documents and explain the risks of the transfer.
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