Primarily servicing the greater New York City metropolitan area



LEONARD M.WEINER, ESQ, Ph.D.
DIVORCE SOLUTIONS
206 East 38th Street
New York, N.Y. 10016
(212) 370-1660

FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY

Question #9:
I am not married, however, my boyfriend and I own a house together. We are both on the mortgage and on the title of the house. If we were to break up, and we wanted to take my name off the mortgage etc.., and replace my name with his parents, what exactly would this involve? Would we have to completely re-mortgage, or is there a simpler way??
Answer:
In order to properly answer your question I must really examine the mortgage and title documents. Assuming the information you have provided is accurate, and assuming there is an acceleration clause in your mortgage in the event you transfer title, he would have to get a new mortgage with the new title holders executing such document. I do not believe there is any simpler way to effectuate the transfer you wish to make. Once again, however, I can not be sure unless I examine the documents directly.

Leonard M. Weiner, Esq./Divorce Solutions

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