Q: How can I transfer a mortgage to the person whose name is on the deed to the property? Do I need a lawyer?
The property is in Clinton County, NY. I no longer reside on the property. My ex-boyfriend resides there. The deed has both my name and his name on it. The mortgage is in my name only. I would like to transfer the mortgage to him and remove my name from the deed. Do we need a lawyer involved to complete the transfer?
A: You cannot do this. He needs to refinance to get his own loan, which will likely require you to give up your interest.
Barry E. Janay agrees with this answer
A: You will not need an attorney to represent you provided that you are entirely conversant as to how to handle this matter without the assistance of an attorney.
A: The mortgage is probably with a bank or other secured lender. He can purchase the property from you and get a loan in what essentially would be a refinance of the loan and that would take you off the mortgage. It's best to get a lawyer to do this so that it isn't screwed up and it should cost you under $1,000 by a local attorney.
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