Removing Name from a Co-owned Property

[Jeremy Kuchenbecker]

I co-own a duplex with my dad. Its a property we have owned for 2 years with a 30 year conventional loan. Is there a precedence for being able to remove a name from a loan, or does anyone know of how to do this? I haven't gotten very far with the lender, but most of the people I speak to there do not sound like they know what they are doing. 

Thanks in advance!

[Jeremy Kuchenbecker]

Thanks Charlie. I spoke to the lender and they have fairly high refi rates. We'll probably end up doing a refi into a 15yr with just my dads name on it. The goal is to pay it off quicker for his investment goals of retirement income and to take my name off to make it easier for him to cash me out when I decide to pull out of the property. 

Originally posted by @Charlie Fitzgerald:

You can request them (current lender) to do a name only refinance...they don't have to and they will charge you normally to do it if they agree to do it.  Or, you can simply refinance the property without your Dad on the new loan.