Yes, if your home has a co-owner listed on the deed or title, they’ll need to provide written consent for the lien on the home’s fixtures.
However:
- The co-owner will not be a borrower.
- They won’t be responsible for repaying the loan.*
- They may be unable to sell, refinance, or obtain financing on the home until the loan is paid in full and the lien is released.
The lien removal process begins 10 days after your final loan payment is made and the balance is paid in full.
*Exception for those living in community property states: Currently, there are nine community property states; Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin, and optionally Alaska also allows couples to opt in to community property rules. For more information about community property states, visit here.