Posted on: 01st Nov, 2010 08:00 pm
My Mom and stepfather bought a house in 2005. They separated in 2007. He was ill, so she let him stay in the house. She got an apartment.
Here's the kicker: He forgeddivorce papers in 2009, and she just found out about it! She's been telling us just to be nice about it, that she will be back in her home when he passes on.
No good deed goes unpunished, I guess.
My question is this: He is going to long term care, and wants to give her the house back. Legal action against him is out of the question at this point, he's too sick.
There is no equity in the house due to the housing market, but she wants her own house back. She can't qualify for a new loan under todays' terms.
Is their any way for her to get her home back without pressing charges against him?
Here's the kicker: He forgeddivorce papers in 2009, and she just found out about it! She's been telling us just to be nice about it, that she will be back in her home when he passes on.
No good deed goes unpunished, I guess.
My question is this: He is going to long term care, and wants to give her the house back. Legal action against him is out of the question at this point, he's too sick.
There is no equity in the house due to the housing market, but she wants her own house back. She can't qualify for a new loan under todays' terms.
Is their any way for her to get her home back without pressing charges against him?
Hi Lyn!
Welcome to forums!
Your stepfather can sign a quitclaim deed and transfer the property to your mother. This will make her the owner of the property. You don't need to press charges against your stepfather for the same.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Your stepfather can sign a quitclaim deed and transfer the property to your mother. This will make her the owner of the property. You don't need to press charges against your stepfather for the same.
Feel free to ask if you've further queries.
Sussane
Thank you so much for answering!
What about the mortgage company? Will they let him quitclaim?
Sorry to be so clueless, but what happens concerning the loan?
He is fine with being the responsible party on the loan, with her having full ownership of the home.
What about the mortgage company? Will they let him quitclaim?
Sorry to be so clueless, but what happens concerning the loan?
He is fine with being the responsible party on the loan, with her having full ownership of the home.
Hi Guest,
The mortgage company will let him quitclaim the property to your mother only if she refinances the mortgage in her name. Once she refinances the mortgage, she will become solely responsible for the mortgage.
Thanks
The mortgage company will let him quitclaim the property to your mother only if she refinances the mortgage in her name. Once she refinances the mortgage, she will become solely responsible for the mortgage.
Thanks