Q: Daughter's ex's name is on property & loan, but daughter has been paying 100% on it for over 5 years.
Hello, My daughter has a house that she bought with an ex-boyfriend (never married). When they split up, they signed a contract saying she had 100% posession to the house for 5 years (until Mar 2023 - when the grant for 1st time home buyer ends). After that, she has 1st chance on refinancing/buying the house and his name will come off. Now, she does not have the credit for refinancing, but has a buyer who wants to buy and rent to her and her family. My question is this - how can she go about this - the buyer has cash, so no financing issues there. If the buyer was to give her the money, she pay off the loan and get a quick claim deed to take her ex off the property, how does she then go about getting the buyer's name rather than hers?
A: Your daughter needs to retain a real estate attorney as soon as possible.
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