Posted on: 14th Sep, 2007 06:44 am
hi, my husband and i have a house together in missouri in joint names. a year and a half ago we split and i now live in australia. i want to get my name off the mortgage and the deed; and i have been told he wont be able to refinance without proof of divorce. is this true? how do i go about achieving this without divorce?
I don't know Missouri law but, he won't be able to refinance with you on the title. You need to give him sole ownership of the house. If in Missouri they require married people to hold title together then there is a problem.
thank you for your reply...i have been reading up a bit and would appreciate your answer...so it seems i would have to file a "novation"and a quit claim to be off the mortgage and deed? obviously he would have to refinance for there to be no comeback on me? i would hate for something to happen to him and to be responsible for the payments or selling of the house half a world away. thanks!
Yes Annie,
To transfer the property ownership to your husband, you will have to sign over a quitclaim deed. By signing the deed, you will give up your rights to the property. And to transfer the loan in his name, you will have to file for a novation. It will transfer entire mortgage obligation to your husband.
After doing the novation, he will not have to refinance further. He will simply have to continue with the payments.
To transfer the property ownership to your husband, you will have to sign over a quitclaim deed. By signing the deed, you will give up your rights to the property. And to transfer the loan in his name, you will have to file for a novation. It will transfer entire mortgage obligation to your husband.
After doing the novation, he will not have to refinance further. He will simply have to continue with the payments.