Getting gf name of property iht and cgt

[vik2001]

My gf currently owns a property with her brother. They cohabit together. She wants to move out and get her name of the deeds.
The house has a 115k mortgage. The mortgage company is not allowing the brother to take over as sole mortgage owner due to having bad credit.
Is there anything she can do to remove her name. She is not selling her share to him, and wants to gift it and be able to move out.

[bd6759]

No

[vik2001]

Anyway. She can get a judge to force her name to come off?

[AGoodman]

No, she jointly owes the mortgage company £115k and the only way to release herself is to pay off the debt (including by re-mortgage). A Court isn't going to just release her from her debt to the bank.

A court could force a sale of the property (if the brother didn't agree) which would hopefully pay off the mortgage.

[vik2001]

What shes trying to do is to transfer her share of the property to the brother by way of gift, and he takes over the mortgage. She can then move out without having a liability.

Issue they have brothet has bad credit and mortgage company is not willing to let him be the sole owner on mortgage

[bd6759]

Have they tried finding another lender?

The stumbling block is the £115k owed to the bank. You cannot dispose of the property until that debt is settled.