Posted on: 06th Dec, 2009 10:34 am
I am getting a divorce and want to buy my house from my husband. His name, not mine is on the title. I think he needs to sign a quitclaim deed and file it with the county and then I would give him his half of the equity in the house. Is that all I need to do? We still have a morgage and I have been paying it for the last 3 years.
Hi erikabaxter!
Welcome to forums!
As your husband's name is on the property deed, then he will have to sign a quit claim deed in your favor. Once he does so, you'll be considered as the owner of the property. Then you can give him his share of equity in the property.
If the mortgage is in your name, then you won't have to worry about it. However, if the mortgage is in your husband's name, then you'll have to refinance it. Thus, your husband won't remain liable for the mortgage anymore.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As your husband's name is on the property deed, then he will have to sign a quit claim deed in your favor. Once he does so, you'll be considered as the owner of the property. Then you can give him his share of equity in the property.
If the mortgage is in your name, then you won't have to worry about it. However, if the mortgage is in your husband's name, then you'll have to refinance it. Thus, your husband won't remain liable for the mortgage anymore.
Feel free to ask if you've further queries.
Sussane