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 joint holder for home loan, how to transfer name?

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mIssfROGY
post Jul 17 2008, 03:14 PM

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QUOTE(vaio_me @ Jul 17 2008, 02:36 PM)
Hi Speakeasy,

Thanks for the reply, but I did not pay a single cent for the house neither my sister, I was just helping my sister and she was just helping her bf parent, because their parent can't apply bank loan due to business they are doing. It could be due to trust or something.

What if I just want to transfer my name out and other thing is none of my business, can this be done?
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u can transfer your name out anytime from the house land title, just go to the land office.
Thing is, it the bank loan u ll have problems transferring out. Not sure how it can be done, but u can call up your LOAN LAWYER and ask him. I think your sis will have to refiance the house under her name or something like that. Better to ask the lawyer la.
mIssfROGY
post Jul 17 2008, 03:19 PM

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QUOTE(vaio_me @ Jul 17 2008, 03:15 PM)
I am just the joint holder and my sister is the main borrower, due to my sister income and her bf family, they can't apply loan.
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No matter what u ll kena if they keep on defaulting the loan. Ya...like some suggested, sell the house else if nobody pays, the bank will take and auction, and u n yer sis will be blacklisted. Else u can opt to start paying the loan 1st and your sis bf's parent pay u guys back later.
mIssfROGY
post Jul 17 2008, 04:02 PM

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QUOTE(vaio_me @ Jul 17 2008, 03:53 PM)
Thanks b00n, thanks for the advise. I seriously need to go clean, else I would be deep shit in future if my name get blacklisted, learned a lesson, sometimes being good guy is hard.
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Poor thing..how come their own son cannot join his name with your sis?
I am sure they will understand your situation geh. Can they stay wif someone else then? your sis n her bf maybe?

Goodluck...but u can also ask yer sis to pay the installment 1st if thats an option.

 

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