Posted on: 24th Feb, 2008 06:27 am
i bought a home with my fiance' 5 years ago. we have split up and gotten back together several times in the past 2 years due to him being unfaithful. i keep the home and pay the mortgage myself. i currently live there and pay for everything and he has an apartment. we are officially done and i had him sign a quit claim deed over to me. his name is still on the mortgage as is mine. i am trying to decided whether or not to file this deed. there is a lien on the house from him not paying his taxes last year which i was unaware of. will this be on there still? will i be responsible? also, when we first split up, i got behind on the mortgage and when we got back together we both signed papers from the mortgage company for hud loan to get the mortgage caught back up... this is a lien on the house also. will i just be responsible for this lien then? if he doesn't pay his taxes again will another lien go on my home? also, someone suggested to me to file chapter 13 and get out of it. what is your thought?
hi laura,
this is a tough spot to be in. bottom line is that liens normally follow the property and not the person. if you truly want to be done with him, your best option is to refinance the property only into your name.
it would be in his best interest as well, because if you were ever to default on the property, he will be jointly responsible. now, i know you don't care about his interests at this point...but my point in saying this is that you may possibly be able to use this info to persuade him to make good with the irs so that the lien will be satisfied.
you may also be able to go to the irs and explain that he is no longer on the deed and that you would like to see the lien removed. i don't know if this is an option...but the worst thing they can say is no.
regarding the other lien with hud, that will stay there until you either pay it or sell the property, and then it would be paid out of the proceeds. or, if you decide to refinance, it would need to be settled at that point.
i don't believe any future irs liens could be placed on this home, as he will no longer officially own the home...but he will still be on the loan.
hope this helps!
this is a tough spot to be in. bottom line is that liens normally follow the property and not the person. if you truly want to be done with him, your best option is to refinance the property only into your name.
it would be in his best interest as well, because if you were ever to default on the property, he will be jointly responsible. now, i know you don't care about his interests at this point...but my point in saying this is that you may possibly be able to use this info to persuade him to make good with the irs so that the lien will be satisfied.
you may also be able to go to the irs and explain that he is no longer on the deed and that you would like to see the lien removed. i don't know if this is an option...but the worst thing they can say is no.
regarding the other lien with hud, that will stay there until you either pay it or sell the property, and then it would be paid out of the proceeds. or, if you decide to refinance, it would need to be settled at that point.
i don't believe any future irs liens could be placed on this home, as he will no longer officially own the home...but he will still be on the loan.
hope this helps!
yes, kpatrick is correct in saying that the liens on the home will remain on the home, no matter what you do with the title.
as for the irs tax lien, you will be ultimately responsible for paying off that lien upon sale of the home (or refinance). also, any other liens - especially those you had a hand in creating - will be your responsibility.
refinancing is not a bad idea, though that will necessitate the payoff of the irs lien. if you wish to avoid paying that off, in hope that your fiance will ultimately make good on the debt; then just continue making your mortgage payments on time and forget the refinance idea.
you are in a messy situation - any settlement you make with your fiance on this property ought to include his taking full responsibility for the irs tax lien, i.e., paying it in full.
as for the irs tax lien, you will be ultimately responsible for paying off that lien upon sale of the home (or refinance). also, any other liens - especially those you had a hand in creating - will be your responsibility.
refinancing is not a bad idea, though that will necessitate the payoff of the irs lien. if you wish to avoid paying that off, in hope that your fiance will ultimately make good on the debt; then just continue making your mortgage payments on time and forget the refinance idea.
you are in a messy situation - any settlement you make with your fiance on this property ought to include his taking full responsibility for the irs tax lien, i.e., paying it in full.
