Finance advice.

I have a situation where I made a purchase with another person and the best option for financing was if it was done through them, they are listed as owner of the property and the debt.
We've fallen out over various things and are unable to continue any form of relation, professional or other. I could just walk away and dump them with this debt, but that would leave them in a terrible financial situation. And so I am offering to take over the debt. I am told that it is not possible to change the name on the debt and so legally they own the purchase. They have said they will sign it over to me once everything is paid for, which will not be for another 2 1/2 years and so obviously sines they have been such terrible partners over this, and infact quite nasty in general considering I have known them a long time I am not able to trust them. Unfortunately I have also had enough experience with lawyers and courts here to know that anything a lawyer drafts up is not worth squat when competing against Dominicans on their own turf.
Has anyone had a similar situation as this, and if so how was it resolved?

AnnaC said:

Is it movable property or not?

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Yes it is movable property. In a perfect world it would all be signed over to me, they can not meet payments on this alone, I can and would like to, but only with a guarantee that it was mine once paid for.

MJSantoDomingo said:

If you really want this movable property, then you need to find a way to buy it from them - and have it in your name.
Do not just take possession and keep it in their name, because if it stays in their name, they can always claim that you "stole it", especially if the relationship has turned bad/ugly...

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I agree, this is the problem, that seems easier said than done.

Rep Dom said:

why do U care for their terrible financial situation when U say U got to a point where any form of relation has become impossible...

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Maybe because I am a decent person and do not feel their family should suffer because of something beyond their control. I also invested in this and so somewhat value my investment, but yes, to walk away would make life easier for me, but who does easy over hear.