Is this a good way to get rid of a house?

[Jennifer Hulse]

Hi! Some of you may remember me. I'm getting a divorce and we have a beach house that's $150K underwater. We tried short sales, but that was out. He came up with an idea that we work as partners with an LLC. No! Now he wants me to "give" him the house so he can start his own LLC. A legal document would be written absolving me from any obligations.

Sounds great, since the house won't grow to its worth for a long time. But while I can remove my name from the deed, my name will still be on the mortgage.

Should I go for this?