Posted on: 12th Feb, 2008 03:53 pm
Hi! My ex husband and I own a home together that our children and I reside in. The home is for sale at this time, BUT my father has told me that he will buy the home, with a mortgage in his name (because I don't qualify for a good loan right now). I am wondering if my ex can quit claim the home deed to me, and then if I can sign the deed over to my father so the deed is solely in my fathers name. THANKS FOR ANY ADVICE!! I have asked my attorney office and they can't give me an answer.....
Hi Mchlledgar,
Welcome to the forum.
I think you should talk to your ex husband and request him to quitclaim the property to you. If he does not agree to quitclaim to you, then you can file a Partition Lawsuit and divide the proceeds accordingly.
To know more about partition lawsuit, check out this article - http://www.mortgagefit.com/know-how/removecoborrower.html#partition-lawsuit
Hope this will help you.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Welcome to the forum.
I think you should talk to your ex husband and request him to quitclaim the property to you. If he does not agree to quitclaim to you, then you can file a Partition Lawsuit and divide the proceeds accordingly.
To know more about partition lawsuit, check out this article - http://www.mortgagefit.com/know-how/removecoborrower.html#partition-lawsuit
Hope this will help you.
Feel free to ask if you have any further questions.
Best of luck,
Larry
My ex husband has agreed to sign a quit claim to me, but I am unclear on what to do after that, in regards to transfering title to my father, who is going to take out a mortgage in his name alone, to pay off the mortgage that is currently in only my ex husbands name. Luckily right now, I am not on a the mortgage (because I stayed home most of the time and took care of our children, and did not make much money). My ex has been ordered to pay the mortgage until the house sells, or is taken off the market. I do not want have to move my children out of their schools or away from their friends....
ok mchlledgar, so you are worried over paying off the loan. is your husband trying to make the payments till the house can be sold off? and how's the market in your area?
it seems that only your husband is on the loan. so, it is his responsibility to ensure that payments are made on time.
now, what i want to ask you is, do you wish to transfer the title simply or sell off the house? if you simply transfer title to your father, he need not get a mortgage. but he can refinance the loan in his name and pay it off.
however, if you sell the house to your father, then you can pay off the mortgage with the sale proceeds obtained from your father.
now, there are 2 things that you need to do:
1. inform the lender about a change in title or sale whichever way you go.
2. if only a change of title is to be done with no buying transaction, then the home should be removed from the listing if it is there currently.
i hope i could explain it clearly. if you wish to discuss further, feel free to do so.
regards,
jessica
it seems that only your husband is on the loan. so, it is his responsibility to ensure that payments are made on time.
now, what i want to ask you is, do you wish to transfer the title simply or sell off the house? if you simply transfer title to your father, he need not get a mortgage. but he can refinance the loan in his name and pay it off.
however, if you sell the house to your father, then you can pay off the mortgage with the sale proceeds obtained from your father.
now, there are 2 things that you need to do:
1. inform the lender about a change in title or sale whichever way you go.
2. if only a change of title is to be done with no buying transaction, then the home should be removed from the listing if it is there currently.
i hope i could explain it clearly. if you wish to discuss further, feel free to do so.
regards,
jessica
Can I ask the courts to get my husband to pay the mortgage of the house that we both jointly own as a way of supporting the children? That way he is providing the children with a roof over their heads in a known and homely environment for them. We have four children ranging from the ages of 14 down to the youngest being 4. Thanks
Hi zoe,
You should first negotiate about this deal with your husband. If he is ready to do so, then you can appeal to the court to mention it in your divorce settlement that your husband would pay the mortgage dues.
You should first negotiate about this deal with your husband. If he is ready to do so, then you can appeal to the court to mention it in your divorce settlement that your husband would pay the mortgage dues.