Posted on: 04th Nov, 2009 08:12 am
i am very confused. my husband and i are getting a divorce. my problem is this property in ocracoke nc.
3 years ago, my husband and i together with his father and mother signed and took out a loan for 699,999k to purchase this land in ocracoke nc for 350k. the rest of the money loaned was used for building the house. the mortage of that house is only under my husband's name and his father's name. he wants me to sign a quit claim deed but the divorce lawyer i hired advised me not to sign it but instead indicates on the msa that they my husband have to refinance that home. my husband keeps on telling me that i do not have any right to that house because my name is not on the mortgage, and i'm not sure if my name is on the deed. i just basically want to waive all my rights to that house including any debts or liens that that house may have or has...so i could continue with my life. what do you think i should do?
3 years ago, my husband and i together with his father and mother signed and took out a loan for 699,999k to purchase this land in ocracoke nc for 350k. the rest of the money loaned was used for building the house. the mortage of that house is only under my husband's name and his father's name. he wants me to sign a quit claim deed but the divorce lawyer i hired advised me not to sign it but instead indicates on the msa that they my husband have to refinance that home. my husband keeps on telling me that i do not have any right to that house because my name is not on the mortgage, and i'm not sure if my name is on the deed. i just basically want to waive all my rights to that house including any debts or liens that that house may have or has...so i could continue with my life. what do you think i should do?
First of all you must have to confirm that, are you mentioned on property deed? if you listed on deed you can get your share from property.I am not confirm about that, but as you mentioned your ex husband wants you to sign a quit claim deed, that means you have mentioned on deed. Get help of your attorney & follow him.
enthusiastic for know another opinion.
Thanks & Regards.
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enthusiastic for know another opinion.
Thanks & Regards.
gunz.ijjistaff :lol: :lol: :lol:
I guess I'm a little confused, you say you took out a mortgage, but then you say your spouse says you are not on the mortgage. Are you or aren't you on the mortgage? If you are NOT on the mortgage but are in fact are only on the deed, than a quick deed back to him resolves the issue.
If , however, you are on the mortgage and you sign the deed over to him without him refinancing then you will still be financially responsible until he refinances. At that point if you give him the deed beforehand you will have no recourse. Signing the deed will not free you of the debt, only a refinance will.
If , however, you are on the mortgage and you sign the deed over to him without him refinancing then you will still be financially responsible until he refinances. At that point if you give him the deed beforehand you will have no recourse. Signing the deed will not free you of the debt, only a refinance will.
