He will remain on the mortgage so I don't have to refi
2006-11-02 05:34:00 · 8 answers · asked by Lou 1 in Business & Finance ➔ Renting & Real Estate
Have him sign a "Quick Claim Deed" - Your lawyer can arrange it.
2006-11-02 05:36:03 · answer #1 · answered by Yo LO! 6 · 1⤊ 0⤋
He CANT legally remain on the mortgage and not on the house. The bank requires that those on the mortgage are on the deed.
You need to refinance to get him off the mortgage and the bank will take care of the deed process.
Normally if a mortgage is not involved, you just quit claim him off.
2006-11-02 06:10:54 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Just in case I would do a sole and separate property agreement with him subject to the mortgage and have him sign a special warranty deed also subject to the mortgage. Ask your divorce attorney, I'm surprised that in your divorce property settlement agreement this wasn't done.
Buena Suerte
2006-11-02 05:42:23 · answer #3 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
Have him either quit-claim or warranty deed to you. This will require a new deed being drawn up and placed of record in the courthouse. If your not sure how to do this, go back to the lawyer who handled your divorce for you and have him do it.
2006-11-02 06:01:44 · answer #4 · answered by Kathleen M 4 · 0⤊ 1⤋
Your local title company can prepare a quit claim deed for him to sign in which he deeds his interest in the property to you.
2006-11-02 05:36:11 · answer #5 · answered by mazziatplay 5 · 0⤊ 0⤋
unless you have a pile of money somewhere, he gets half of the assessed value. so how are you going to buy him out without refi. always woman trying to get the better end of the deal after a man bust his *** all his life
2006-11-02 05:43:13 · answer #6 · answered by whynot 4 · 0⤊ 2⤋
Ideally you should have him refinance the rest of the mortgage in his name only, otherwise if he and his new love decide not to make the payments, you are responsible no matter what you paid him. Think smart don't be nice.
2006-11-02 05:44:07 · answer #7 · answered by brokenheartsyndrome 4 · 0⤊ 2⤋
you must pay him half of the assessed value. then its your house.
2006-11-02 05:36:54 · answer #8 · answered by Anonymous · 0⤊ 1⤋