Compare Mortgage Quotes

As part of a divorce settlement, a property is being awarded to me. My wife and I remain on the title and the mortgage, but I will obtain an interspousal deed transfer that I will not file until I can refinance the house in my name solely. It has recently come to my attention that there was a homestead filed on the house by my wife before we were married (the house was in her name at the time). Will this have any effect on the settlement? Is it at all valid now? Thanks in advance

jenkin7 · Posted: Mon May 04, 2009 11:27 pm Post subject:

Hi Guest,

I do not think the homestead will have any effect on the divorce settlement. If as per the settlement agreement, your wife transfers the property to you through an interspousal deed, you will become the sole owner of the property. However, you will not be able to enjoy the benefits of the homestead exemption as it is currntly in your wife's name. You may have to file a new homestead application due to the change in the title, depending upon the laws of your state.

Guest

Thanks, jenkin7, for your reply.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

Will my California divorce award be affected by a prior homestead?