Posted on: 13th Sep, 2007 12:23 pm
My wife brought the house with her mom's name on title before our marriage, she carries the loan only. We added my name onto the title after we married, we refianced and both of us had the loan.
recently, her mom agreed to remove her name from the title.
If we decide to divorce, becuase it was purchased before our marriage, this house is still 50/50 for both of us?
Thank you for your help.
recently, her mom agreed to remove her name from the title.
If we decide to divorce, becuase it was purchased before our marriage, this house is still 50/50 for both of us?
Thank you for your help.
As you are on the title at the time of divorce, court will decide how much share you will get out of the house.
Many other things will be taken into consideration such as financial status of spouse, debts that both owed together and their payments apart from mortgage obligation to decide who should get how much share.
Many other things will be taken into consideration such as financial status of spouse, debts that both owed together and their payments apart from mortgage obligation to decide who should get how much share.
Hi Lovewalking,
I think, as you are already named on the title, so even if you divorce, you will retain your share of the property. It will not be affected by the divorce.
I think, as you are already named on the title, so even if you divorce, you will retain your share of the property. It will not be affected by the divorce.
Dear all,
thanks for reply.
I know I will have shares, but I don't know the %? is that 50/50 or a complex formula to figure out.
thank you everyone again.
Lovewalking
thanks for reply.
I know I will have shares, but I don't know the %? is that 50/50 or a complex formula to figure out.
thank you everyone again.
Lovewalking
Hi Lovewalking,
If the divorce proceedings has already started, then the court will decide your share of the property. But you can also know about your share of the property from the office of the County Recorder where the deed was recorded.
If the divorce proceedings has already started, then the court will decide your share of the property. But you can also know about your share of the property from the office of the County Recorder where the deed was recorded.
how can i take my name of the property title
Hi tiluke!
Welcome to forums!
In order to take your name off the property title, you will have to transfer the property to someone else. In order to do this, you will have to sign a quitclaim deed. Sample quitclaim deed forms are available online but you can even draft the deed from an attorney.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
In order to take your name off the property title, you will have to transfer the property to someone else. In order to do this, you will have to sign a quitclaim deed. Sample quitclaim deed forms are available online but you can even draft the deed from an attorney.
Feel free to ask if you have further queries.
Sussane