Is there a waiting period? We are filing for divorce. Can we say, we don't have a property together since the property will be on her name only and we are both not on the mortgage.
2007-10-18 07:28:57 · 4 answers · asked by SAM 1 in Business & Finance ➔ Renting & Real Estate
You can probably do that. Call a title company -- maybe the same one you just closed with -- and ask them.
2007-10-18 07:31:58 · answer #1 · answered by Debdeb 7 · 0⤊ 0⤋
I do not think you are liable for the mortgage beyond the value of the property, but if you quit claim the property to your wife, it is her liability. Check with your (divorce) attorney, he or she can advise you about the laws in your state.
2007-10-18 07:46:43 · answer #2 · answered by Bibs 7 · 0⤊ 0⤋
definite, you could desire to purchase a house below your call in uncomplicated terms with out having your spouse sign any papers. a thank you to do it rather is so you might take the call as a "single guy" even nonetheless you're married. this type your spouse won't ought to sign something... no longer even a "rapid declare deed" or "inter spousal deed" in case you point out which you're married to the escrow or call corporation, they're going to tension your to have your spouse sign a rapid declare. only one little element: do no longer forget that even in the journey that your spouse isn't call, your spouse continues to be entitled to 50% of the living house in case you reside in an area aspects state like California.
2016-12-29 16:55:19 · answer #3 · answered by ? 4 · 0⤊ 0⤋
The lender can still go after you. All the rules in this area are designed to protect the investor (the lender) from default by you.
Good luck.
2007-10-18 07:32:39 · answer #4 · answered by Phil M 7 · 0⤊ 0⤋