Should we refinance to take ex-wife's name off the papers?

Guest 0.10 Dollars($)

My husband wants to sell his home which he owns along with his wife. But the home isn't selling and she is getting remarried and wants to leave the property. She can give the house to him and is asking to take her name off the papers. We are thinking of moving into the property. What do you think is an effective way to go around? Do we have to refinance to get her name out of the papers?

Guest 0.10 Dollars($)

You would need to have her sign a Quit Claim to remove her from the title.

Caron

Hi Sharon,

You can remove your ex-wife's name from the title by refinance.

First of all, talk to the lender and ask him if he is willing to continue the loan if there is a change in the title. Then find out if he can provide you with a lower interest rate on the refinance loan. If he is not able to offer you a lower rate, then you can look forward to refinancing with a new lender.

Thanks,

Caron.

Guest 0.10 Dollars($)

Sharon, you may consult a local real estate attorney in order to change title at the least possible cost. Under certain circumstances, you may not have to pay the transfer tax required in case of change in the title.

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