How to Remove a Name From a Deed Trust
- 1). Locate all of the paperwork given to you when you closed on your home, as well as any changes in the terms of your deed of trust. If you cannot find all of the forms, or you want to be certain that you have every item, contact your lender and request a copy of all of the appropriate documents. Look over the papers carefully, checking for any fees that may be due if you make changes to the deed of trust. It will most likely be necessary for you to refinance your loan to remove another party from the obligation.
- 2). Pull a copy of your credit report. You will be using your income and credit to refinance, so it's important that your credit is in the best possible condition. Check for any negative items, and resolve them as quickly as possible, time permitting. Otherwise, be prepared to take care of them when you refinance.
- 3). Notify your lender of your plans to remove a debtor from the deed of trust. In nearly every instance you cannot simply modify the deed of trust; rather you would have to refinance the home to remove the other person from the deed of trust. For the sake of simplicity, try to refinance through your current lender. If you have been a good customer, your lender will most likely work with you to push the refinance through with a minimal amount of effort on your part. The lender will issue a reconveyance to you and the other party on the deed of trust before filing a new deed of trust with you as a sole debtor. The reconveyance of the old deed of trust effectively removes the other party from their obligation.
