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I live in Florida and I bought a condo as an investment when single and the deed and mortgage are in my name only. I married a year later and live in my primary residence (in my name only). My husband and I are separating (not divorcing yet) and both agree to putting the condo in his name exclusively (with a new mortgage in his name). Can we do this while still married? if we are not legally divorced and he defaults on payments on the condo, does it affect my credit because we are legally still married?

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi RNaples,

Welcome to the forum.

You can quitclaim your condo to your husband but is he ready to take the new mortgage on his name only? If he is able to take the mortgage on his name then you can surely do it.

"Can we do this while still married?"
Of course you can do it but need to take the lenders consent.

If your husband defaults on the mortgage then it will not affect your credit as you are not on the mortgage.

Feel free to ask if you have any further questions.

Best of luck,
Larry

Niicss · Posted: Sat Apr 12, 2008 3:04 am Post subject:

Welcome RNaples,

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