Posted on: 12th Sep, 2010 06:20 pm
hi everyone. i live in california. i am concern because i own two different morgages. one of the property i signed a quitclaim deed to my son; he is now getting divorce and both properties have equity. can court make me refinance on any of the properties to pay my son's wife half of the equity? thanks so much for the help.
Welcome curieldaisy,
If the son's wife has her name mentioned on the property deed, then she will have community interest in that property. In that case, you'll have to pay her the equity for which you might have to refinance the loan.
If the son's wife has her name mentioned on the property deed, then she will have community interest in that property. In that case, you'll have to pay her the equity for which you might have to refinance the loan.
Thanks so much for answering. Question: Now when I purchase the property I was told the following: That if my son made payments for a whole year with his personal checks, that the mortgage & deed will get transfered to my son's name automatically. I was told that from the realtor. Is that possible? Is there such contract that will do that automatically or would I have to refinance the property to get the deed & mortgage transfered to his name?
Thanks so much for answering. Question: Now when I purchase the property I was told the following: That if my son made payments for a whole year with his personal checks, that the mortgage & deed will get transfered to my son's name automatically. I was told that from the realtor. Is that possible? Is there such contract that will do that automatically or would I have to refinance the property to get the deed & mortgage transfered to his name?
Looking to purchase a new car?? Want to save a lot of $$$ and not get screwed over by the car dealer?? Then you need to go to the web site below and learn how to negotiate with the dealer. You will recieve a FREE copy of the "Dealer Tips and Tricks" eBook. This eBook was formulated by 3 men all with 20+ years of experience auto sales. It is guaranteed to save you anywhere from $2,500 to $5,000 or in some cases even more on the purchase of your new car, and it is 100% FREE!! Come take a look today and SAVE!! Car Purchase eBook
IFws.co.uk is a best price comparison internet site that allows you to compare the best deals.Compare prices, Read and write product reviews.You can find the cheapest deals in you country. Online shopping has never been easy as with IFws.co.uk!
I have never heard of that and if you're worried that she will take half of the current equity in the home; I'd suggest refinancing now and pulling him off the mortgage and deed.
