Transfering Name On Deed
There is this property owned by my business partner and me, and we now want to dissolve the partnership and property for him to stay with. The property still has a mortgage on it, I spoke to a few people and so far they said.
1. He should get a pre-approved loan with his name on it alone.
2. Sign off the deed to him in presence of a public notary, lawyer, etc.
My question is, am I missing any important steps, and if so, can any body kindly tell me what they are?
Thanx. 
Did the property appreciate during your ownership?
Are you gifting that to him or is he buying you out?
Are you on the current mortgage?
I hope they recommended that you sign over the deed as part of the closing that transfers the mortgage over to him.
Many people get confused about this:
1. The mortgage is a liability on whomever owns the mortgage.
2. The deed gives ownership to whomever is on the deed.
Divorces do this all the time...leave a mortgage as was, but change a deed. Out of balance power and control = Ouch.
No appreciation while me owning it.
I am gifting the property to him, and I don't want any strings attached.
Yes I am still on the mortgage with him.
Then you should be fine signing over the deed (quit claim deed?) at closing as his new mortgage pays off the joint mortgage.