Omaha, NE asked in Real Estate Law for California

Q: My cousin, me and my sister are on the Mortgage Loan. Me and my sister want our names off the loan.

My cousin, me and my sister are on the Mortgage Loan. Me and my sister want our names off the loan. My cousin will refinance to make this happen. But to due to some family matters, we want to keep our names on the title BUT off the loan. What will the process look like? What fees will I end up paying?

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1 Lawyer Answer
Maurice Mandel II
Maurice Mandel II
Answered
  • Newport Beach, CA
  • Licensed in California

A: You need to discuss this with your lender, It may not be possible to be on title but not on the loan. Transfer to a trust? Contact a local attorney dealing in Wills and Trusts. Transfer the property to a Trust and you all are beneficiaries of the trust.

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