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My husband and I bought a house a few month after we married in 2007. His credit was so bad at the time, that our mortgage lender said they would only give us the loan if we put it in my name only - so we did. However, we put both of our names on the deed in case I died, he'd still have rights to the property.
Now we are divorcing. Problem is, he's in the army and currently stationed in Afghanistan. I've recently lost my job and would like to sell the house and relocate for another job opportunity in another state. I still currently have Power of Attorney over my husband. Can I sign a quitclaim deed in his name to give me all the property rights so I can sell and move?
I feel I should also mention that the house is upside-down. We owe $290K and the current market is selling at $250K. If I figure a way to sell, are we then both responsible for the remaining debt, or would that be just on me since I'm the only one on the mortgage?

Thanks!

Niicss · Posted: Fri Oct 23, 2009 1:52 am Post subject:

As you have a power of attorney on your husband's behalf, you will be able to sign a quitclaim deed and transfer the property in your name. Then you can sell off the property and move. If you are the only one on the mortgage docs, then you would be solely responsible for the debts.

Guest

Thank you for your response. However, I contacted a title company and they told me I can't do it. They said 'it's a conflict of interest and raises red flags'. Do you think there is any truth to that?

adonis · Posted: Sun Oct 25, 2009 9:42 pm Post subject:

Hi Starz,

As you've a power of attorney you can transfer the property in your name. As you're divorcing, your divorce decree must state about the division of the property. If you've received the property then you can definitely transfer it in your name with the help of the power of attorney. You may give a copy of the divorce decree to the lender. I don't think the lender would disagree to it then.

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Removing my husband from the Deed