Posted on: 08th Mar, 2010 09:01 am
my husband and i purchased our home 11 years ago this june. we are going through a divorce and it will be final this month. he wants to have no obligation to the home whatsoever. we have had it put in the marital settlement agreement that i am to remain in the home with our children and he has no obligation to the home. however, he is still on the title. he wants to move on to be able to buy something else or move into a place, but he has the house hanging over his head. we cannot afford anymore attorney fees and he is threatening to sell the house and i would literally be homeless. by doing an interspousal transfer deed or quit claim deed, does this relieve him of the obligation to the home, so he can get another mortgage or rent a home? i am terrified of losing my home, the only place my children know and their stability.
Welcome cherylhansen,
Your husband can sign a quit claim deed and transfer the property to you. Thus, his name would be removed from the property deed and you would become the sole owner of the property. If the mortgage is also in both the names, then you will have to refinance it. This will release him from the liability of paying the loan. Thus, he would be able to secure a new loan to buy a property.
Your husband can sign a quit claim deed and transfer the property to you. Thus, his name would be removed from the property deed and you would become the sole owner of the property. If the mortgage is also in both the names, then you will have to refinance it. This will release him from the liability of paying the loan. Thus, he would be able to secure a new loan to buy a property.
I FILED FOR BANKRUPCTY NY HOUSE INCLUED I FOUND OUT MY HUSBAND SOLD MY HOUSE WHILE I WAS IN BANKRUPCTY HOW CAN I GET INFO ON THIS