Posted on: 14th Nov, 2009 09:42 pm
i am going through a divorce. i plan on giving my wife the house we both own as part of the settlement. the loan and the deed are in my name due to my wife's poor credit. her attorney has informed me if i do a interspousal transfer, giving her the deed on the house, and allowing her to refinance it so the loan will be in her name (and my name will no longer be on the loan)--this is still an interspousal transfer--there by alllowing me to have no irs or california state tax consequences. is this true?
Hi Bhmking,
get it recorded in Divorce degree. I am afraid by your statement that she has a poor credit score. she may not be able to refinace it. so think about other alternatives of settlement for e.g. selling the house etc.
get it recorded in Divorce degree. I am afraid by your statement that she has a poor credit score. she may not be able to refinace it. so think about other alternatives of settlement for e.g. selling the house etc.