Since March, we have each been paying half the mortgage. He wants to stop paying half at the end of the year (it’s unclear to me whether that means he has already stopped given that it’s December, or whether he will pay half for the payment due on January 1, 2025.) My name is also on his car, which is due to be paid off in June 2025. He has been making the payments on said car since he moved out, but prior to that we paid all bills, including the car payment, from a joint account so I also made payments on the car prior to the breakup. It may also be important to note that we were never married or engaged, but we lived together for nearly 5 years. (Rented together for about a year and a half or so, then bought the house in February of 2021.) Additionally, several of his belongings are still in the house. I have boxed most of them up and put them in the only spare room.

I have since started dating someone new, who has suggested that because my ex and I both equally own the house and the one car (I am the sole owner of the car I drive) that I should suggest to him that he should sign off of the house leaving me sole ownership, and I should sign off of the car leaving him sole ownership, and we both walk away. I don’t have any immediate plans to sell the house, as the mortgage payment is lower than most peoples’ rent so I can’t afford not to stay there, at least for the time being. My question is, is what my new partner proposed possible and if so, how do I go about it? If it’s not possible, what are my other options? This is in a rural town in Ohio.