Asked by Anonymous
Hi, my ex-girlfriend and I bought an underconstruction property previously. The loan is under my name only but the SPA has both of our names. Unfortunately, we have decided to split for our good. So right now I'm thinking how to manage the property that I bought, since loan is under my name only but SPA under both of our names. Can you advise me on the following please?
Scenario 1: I continue to own the property and pay the loan, so have to remove my girlfriend name from SPA.
Scenario 2: transfer ownership to girlfriend and refinance the loan under her name only.
Scenario 3: Sell the property.
Can you advise what are the documentations required and estimation of charges/penalties that would be imposed for each of the scenarios?
Thank you
Scenario 1: I continue to own the property and pay the loan, so have to remove my girlfriend name from SPA.
Scenario 2: transfer ownership to girlfriend and refinance the loan under her name only.
Scenario 3: Sell the property.
Can you advise what are the documentations required and estimation of charges/penalties that would be imposed for each of the scenarios?
Thank you
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