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Taking Husband's Name Off Boat Title

I have a boat loan that is in my husband's and my name. I would like to have his name taken off of the title. How do I go about that?


You and your husband would have to agree to this. The lender holding the loan and title would also have to agree, and your husband may have to sign some agreement form that verifies he is still on the debt and that he allows any ownership interest he has (such as under a community property law) to remain pledged.

It is unlikely that the lender would release your husband from both ownership and the debt obligation without incentive, such as an accelerated pay-down on the loan. Although you didn't mention a debt obligation release, that is commonly associated with a release in a security interest.

Some lenders refuse to change any terms of an open loan. You'll have to ask them to be certain what is required. The lender has no obligation to make a change.

Published on BankingQuestions.com 4/26/07