Posted on: 24th Nov, 2007 10:41 am
I have been paying the mortgage on my own for the past 3 years, divorced for 1 year. During the process of the divorce, I was trying to sell the house. My ex agreed to take only 40% and I get 60%. The house was on the market for 11 months, had one buyer who backed out after the inspection. I have tried for the past 4 months to refi and give him what he would have gotten if the house had sold. But due to his bad credit in the past I was unable to refi with cash out. I have learned alot about his credit since then and now feel he really doesn't deserve any money from the house since I have been the only one paying the mortagage for the past 3 years. I have also made some improvements to the house also.I had the roof done, the chimney redone, had insulation blown in, trim painted. I am thinking of having him sign a quitclaim deed and I don't know if I should go back to my attorney/mediator who did our divorce or should I go to a real estate attorney. If he refuses to sign can I then sue him for back mortagage payments? Any advice would be greatly appreciated.
talk to divorse attorney for your options. If both of you are on the mortgage then refinancing in your own name would be your option. If your spouse signs the quitclaim deed he gives up rights to the property but still has responcibility for the mortgage so I doubt he would sign up for this.
hello cdnls,
is the deed and the mortgage both in your spouse's name? in that case, the ownership rights may be transferred to you if he willingly signs a quit claim deed. but in order to transfer the mortgage, you have to refinance it in your name or do a novation.
if he is on the mortgage but you are making the monthly payments on his behalf, then you can sue him for that. you should consult an attorney for any further assistance.
is the deed and the mortgage both in your spouse's name? in that case, the ownership rights may be transferred to you if he willingly signs a quit claim deed. but in order to transfer the mortgage, you have to refinance it in your name or do a novation.
if he is on the mortgage but you are making the monthly payments on his behalf, then you can sue him for that. you should consult an attorney for any further assistance.
Hi Cdnls,
Welcome to this forum,
You can request your husband to quitclaim the property and transfer the property to you and you can refinance on you name to remove his name from the mortgage, because quitclaim does not remove from the financial obligations. You can even buy him out and pay him his share of equity.
Even after that if he does not agree to quitclaim, you can file a Partition Lawsuit. A Partition lawsuit can be started by any of the co-owners of the property even though the other owner is not agreeing to sell the property. The court will decide the proceeds after the sale.
Hope this will help you. Feel free to ask if you have further questions.
Thanks,
Larry
Welcome to this forum,
You can request your husband to quitclaim the property and transfer the property to you and you can refinance on you name to remove his name from the mortgage, because quitclaim does not remove from the financial obligations. You can even buy him out and pay him his share of equity.
Even after that if he does not agree to quitclaim, you can file a Partition Lawsuit. A Partition lawsuit can be started by any of the co-owners of the property even though the other owner is not agreeing to sell the property. The court will decide the proceeds after the sale.
Hope this will help you. Feel free to ask if you have further questions.
Thanks,
Larry