Posted on: 13th Jul, 2010 10:57 am
I am looking to deed over the house to my ex wife but I want to retain all of the liabilities. is this possible and which one would hold up better in court?
Thanks mspencer
Thanks mspencer
hi notus,
if there is a mortgage on the property, then you'll have to use a quit claim deed in order to get the property transferred in your ex-wife's name. however, once there is a property transfer, then the lender will want your ex-wife to refinance the loan in her name. so, i don't think the lender will allow you to keep all the obligations whereas transfer the property to someone else.
thanks
if there is a mortgage on the property, then you'll have to use a quit claim deed in order to get the property transferred in your ex-wife's name. however, once there is a property transfer, then the lender will want your ex-wife to refinance the loan in her name. so, i don't think the lender will allow you to keep all the obligations whereas transfer the property to someone else.
thanks