Posted on: 27th Feb, 2010 07:12 pm
CAN I SELL MY SHARE OF HOUSE AND MOTGAGE TO MY EX-WIFE FOR ONE DOLLAR ONLY?". THE DIVORCE PROCESS STARTE 2 WEEKS AGO AND I SIGNED THE NON-CONTESTED FORM AS THE DEFENDANT. SHE IS WILLING TO TAKE OVER THE MORTGAGE PAYMENTS $284,000, IF I FORGO THE SHARE OF THE MOTGAGE MONEY SHE AND PAID FOR PAST 10 YEARS AND NOT ASK FOR ANY THING SHOULD HOUSE GETS SOLD WITH OR WITH OUT PROFIT> BOTH OUR NAMES ARE ON DEED, TITLE AND MOTGAGE. HER NETWORTH IS 4 TIMES MINE? IS THERE A DIFFERENCE IF WE DID THAT NOW OR AFTER THE DIVORCE IS FINALIZED?
Hi beeaimd,
If you do not want the property or the mortgage, then you may inform the court about it and get a judgment regarding the same. Then you can transfer the property to your ex-wife who will refinance the loan. This will release you from the responsibility of the loan payments.
If you do not want the property or the mortgage, then you may inform the court about it and get a judgment regarding the same. Then you can transfer the property to your ex-wife who will refinance the loan. This will release you from the responsibility of the loan payments.