Posted on: 06th May, 2007 02:04 pm
have been awarded the home in my divorce settlement and must transfer the property and mortgage out of joint name and into my name only. Can I do a quitclaim deed and just have my exhusbands name removed from the current mortgage?
hi drskunk,
welcome to the forums.
you can get the property transferred in your name. but the loan cannot be transferred in your name through this process. in order to take your name off the loan, you need to talk to the lender and then get his consent. the lender may ask you to refinance the loan in your name. or simply, he can allow you for a novation - a legal process of transferring loan from one person to another.
take care
welcome to the forums.
you can get the property transferred in your name. but the loan cannot be transferred in your name through this process. in order to take your name off the loan, you need to talk to the lender and then get his consent. the lender may ask you to refinance the loan in your name. or simply, he can allow you for a novation - a legal process of transferring loan from one person to another.
take care
hi drskunk,
to get the property transferred in your name you can use a quit claim deed and when the mortgage is refinanced (in case lender does not allow novation), the quit claim deed can be made out for title transfer.
miller
to get the property transferred in your name you can use a quit claim deed and when the mortgage is refinanced (in case lender does not allow novation), the quit claim deed can be made out for title transfer.
miller
To be more exact, in regard to miller_st post above if you are going to refinance, the process will include perfecting the title to remove your ex-husband and put it fully in your name. That's not a 2 step process, but rather part of completing the refinance.
