Posted on: 06th Jun, 2011 08:29 pm
My husband and I have separated and own a home together- both of our names are on the mortgage and title. I have found a house I would like to buy, so I want to get my name off of the mortgage and the title and sign the house over to my husband. What is the best way to do this without having to get a divorce? I have been told that a Texas Warranty Deed is the best way to go, but I'm concerned it will not get me out of the mortgage.
Hi juliebunn,
You will have to sign a quitclaim deed and transfer the property to your spouse. Once you do so, your spouse will have to refinance the mortgage in his name in order to relieve you from the mortgage payments. Once he refinances the loan, you can apply for a new loan in order to buy a new property.
Thanks.
You will have to sign a quitclaim deed and transfer the property to your spouse. Once you do so, your spouse will have to refinance the mortgage in his name in order to relieve you from the mortgage payments. Once he refinances the loan, you can apply for a new loan in order to buy a new property.
Thanks.