How to remove name from mortgage after divorce

Sit down with your lawyer and discuss this, and head back to court to try to rectify the situation.

my husband and i are getting divorced and i am in the process of refinancing the mortgage and he will be signing a quit claim deed. at closing, is he responsible for paying transfer taxes on 1/2 of what's left on the mortgage + the money i'm giving him to buy him out? not talking about state and local mortgage taxes.

Welcome lucy,

Your query has been replied to in the given page:
http://www.mortgagefit.com/know-how/about52350.html#215316

Take a look at it. I hope it will help you.

i have been divorced for 3 years. the family home was quick claimed in my name and the first mortgage is in my name. my ex put a second mortgage on my home 6 years ago to secure money for a business obligation, a lawsuit he lost. the note renews every 3 years and it is currently up for renewal. in our divorce settlement he was to refinance this loan to the best of his ability asap. he's made no attempt to refinance and now it is renewing. he is trying to renew the loan as it's been in the past, jointly. he has been paying this note solely for 6 years. his assets far out way this note, he has property in another state and also received an inheritance that would more than cover the second mortgage amount. am i required to renew this note? his bank is pressuring me and if i need to re-hire my attorney who pays his fees since he is not cooperating?

Hi Guest,

It is not mandatory for you to renew the note. You should ask your ex to refinance the loan in order to remove you from the loan. If your ex does not do so, it will be considered as going against the court which will be punishable as per law. If your ex does not follow the court's order, then you may take legal actions against him.

Welcome Mac,

You and your wife can ask her ex-husband to sign a warranty deed and transfer the property to you and your wife. This will make both of you the sole owners of the property.

Thanks for the reply. My wife's ex has been out of the pictures for nearly 23 years. I am not sure if she knows where he is located at now. They divorced a few years after they brought the house, from 1986 to 1989, she was paying the mortgage, then once we were married, I started paying the mortgage until the mortgage was paid off in full. I have a few questions:
1. Since the ex name is still on the deed, what would happen if something happen to my wife ...even though she has a divorce paper stating the house was given to her as part of the divorce settlement?
2. In the reply above..it stated my wife and I should ask her ex to sign a warranty deed and then transfer the property into our names. What would happen if he refuse to sign any paper work?
3. Could he come back now and want half of the townhouse?

Hi Mac!

Welcome to forums!

If something happens to your wife, then the property may go to your wife's ex-husband whose name is mentioned on the property deed. She may show the divorce agreement to the real estate attorney and check out if she can get any help from him.

If the ex refuses to sign the deed, then the property will remain in the name of the ex.

Feel free to ask if you've further queries.

Sussane

hi mac,

you can try with the below to solve your problem...

1. obtain an official quit claim deed from your title company and fill out all the information in full of your wife's property details. check with the laws in your state to see whether or not both parties have to sign the form. (if required, send a notice to other party stating that you require signature on quit claim deed - the other party must responed to your notice, otherwise you can with attorney on further steps)

2. get a notary public to sign and stamp the deed to make it official. check with your local county recorder to see whether or not your document needs to be notarized in the presence of witnesses.

3. submit the document to the county clerk's office in your city. the document will be filed and official copies sent to both parties as well as the title company.

4. the property is fully transfered to your wifes name.

5. now, she can transfere the property to both of your names (like warranty deed)

or else, you can approach title insurance companies and they can provide you better solution.

thanks,

if an ex has signed the quit claim deed, they can't take their names off the loan. the best avoidance to this issue is to force the ex spouse to refinance the home in his/her name before the divorce ends. if they don't qualify for refinancing, then a court order to make them refinance is useless. as long as the mortgage payments are met, it doesn't hurt for the ex-spouse's name to remain on the loan. it's an issue of trusting the ex's intentions, but if the mortgage payments are not met, it can ruin both of their credit.

My ex-husband took the house in the divorce and was ordered to refi in his name only within 1 yr. 3 yrs later he has yet refied and wants me to sign over the deed. I tell him he needs to refi. I will not sign the deed because I am still liable financially. Am i correct? any suggestions would be appreciated.

Hi Marie,

Yes, you're absolutely correct in this regard. Unless he refinances the mortgage in his name, you're financially liable for the loan. So, unless he decides to refinance, you shouldn't remove your name from the deed.

Thanks

I am divorced will be two years in july, I qucik deeded the house to him according to our divorce decree he has 2 years to get my name off the mortage, and he has yet to do so, what can I do... alo another question he has come into some money and my question is can he borrow against his pension plan, and where does that leave me when he retires in our divorce decree it states I am entitled to a portion of his pension after he retires...

Hi jlg,

Now that he hasn't refinanced the mortgage in his name, you can take legal actions against him or else, you can ask him to quitclaim the property back to you. As far as the pension is concerned, you should check out the divorce decree and also get in touch with a lawyer in this regard.

Thanks