Posted on: 22nd Jan, 2010 12:01 pm
Complaciated ....
Me and my wife bought a house together, we had a close friendof hers sign for the mortgage, and my wife name was on the deed, my wife never md ay payments, left and after a long fight I got her to quitclaim
her part to me... ok now that this is done, my issues are listed below.
We are still married unsure if when we go for divorce, She wll ask for the house to be sold to get money from the house. I worked hrd to tak this out out of forclosure and wat to keep it.
Now that it's tax time, the female who signed for the mortgage keeps trying to file th taxes and I keep telling her no, I am afraid she will still do it without myknowledge and when i filel i will be auditted.
And last what standing does either one have with this house.
Can the women on the mortgage sale this house with out my permisson.
pLEASE urgent respone needed.
Me and my wife bought a house together, we had a close friendof hers sign for the mortgage, and my wife name was on the deed, my wife never md ay payments, left and after a long fight I got her to quitclaim
her part to me... ok now that this is done, my issues are listed below.
We are still married unsure if when we go for divorce, She wll ask for the house to be sold to get money from the house. I worked hrd to tak this out out of forclosure and wat to keep it.
Now that it's tax time, the female who signed for the mortgage keeps trying to file th taxes and I keep telling her no, I am afraid she will still do it without myknowledge and when i filel i will be auditted.
And last what standing does either one have with this house.
Can the women on the mortgage sale this house with out my permisson.
pLEASE urgent respone needed.
your scenario is one of the reasons lender have the due-on-sale clause in their notes, prohibiting title to be modified.
you're the only one on title right now, so you legally own the house.
the person who made the mortgage payments is the person who's legally entitled to claim the tax deduction, regardless of who is on the note. if both of you file the same tax deduction for the interest write-off, one of you is going to get into trouble.
it's best to return title back to the way it was, so it matches the note. then you should refinance the property into your name, since you want to keep it.
you're the only one on title right now, so you legally own the house.
the person who made the mortgage payments is the person who's legally entitled to claim the tax deduction, regardless of who is on the note. if both of you file the same tax deduction for the interest write-off, one of you is going to get into trouble.
it's best to return title back to the way it was, so it matches the note. then you should refinance the property into your name, since you want to keep it.