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Interspousal Transfer Deed who mortgage responsability?

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enjoylisu Joined: 05 Sep 2009 Posts: 1 1.00 Dollars($)	Posted: Sat Sep 05, 2009 11:36 am    Post subject: Interspousal Transfer Deed who mortgage responsability? Like 0 Dislike 0 I have a question. My friend is currently going through a divorce. Both parties agreed to keep their each others debts separate. He agreed to keep on property(1) and her another, property (2). Property (2) has a mortgage loan that is only under his name and the title is under both parties. Under a Interspousal Transfer Deed does she have to put the loan under her name or does he have to continue paying the loan and she owns it free and clean? She would be the only one on title and he would be the only one on the property loan.
smithsussane Joined: 18 Sep 2008 Posts: 10030 Location: Alaska 919.49 Dollars($)	Posted: Sun Sep 06, 2009 11:20 pm    Post subject: Like 0 Dislike 0 Hi enjoylisu! Welcome to forums! Transferring a property through an interspousal transfer deed will not help your friend to remove his name from the mortgage docs. Your friend will have to ask his ex-spouse to refinance the property in her name. Once she does so, your friend's name will be removed from the mortgage docs. Feel free to ask if you've further queries. Sussane

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