Posted on: 01st Oct, 2009 03:50 pm
Hi,
My husband and I are getting a divorce. We just bought our house in May 2009. He is not interested in keeping the house but I am. Is a quitclaim deed the best option for me? I understand his name will remain on the mortgage loan. How does that affect the sale of the house in the future? Would he have to sign for the sale of the house?
My husband and I are getting a divorce. We just bought our house in May 2009. He is not interested in keeping the house but I am. Is a quitclaim deed the best option for me? I understand his name will remain on the mortgage loan. How does that affect the sale of the house in the future? Would he have to sign for the sale of the house?
if he does quit claim deed then he will not longer have interest in that property
his name will continue to stay on the loan until you refiance the laon in yoru name
when you sell the hosue he does nto need to sign any papers
you will sign the papers and pay the money to the bank
his name will continue to stay on the loan until you refiance the laon in yoru name
when you sell the hosue he does nto need to sign any papers
you will sign the papers and pay the money to the bank
hi skinny!
welcome to forums!
you can get the property transferred in your name with the help of a quitclaim deed. however, in order to remove your husband's name from the mortgage, you would have to refinance the loan. unless you refinance the mortgage, your husband would be equally responsible for paying the mortgage dues. but as the property would be in your name, he would not be required to sign any documents while you sell the property.
feel free to ask if you've further queries.
sussane
welcome to forums!
you can get the property transferred in your name with the help of a quitclaim deed. however, in order to remove your husband's name from the mortgage, you would have to refinance the loan. unless you refinance the mortgage, your husband would be equally responsible for paying the mortgage dues. but as the property would be in your name, he would not be required to sign any documents while you sell the property.
feel free to ask if you've further queries.
sussane
Thats absolutley correct
Only question woudl be, do you have enoguh equity in the house
That will be decidign factor in refinancing. It is easy and possible when you have equity in the house
Only question woudl be, do you have enoguh equity in the house
That will be decidign factor in refinancing. It is easy and possible when you have equity in the house
will you be in a position to refinace? do you have equity in it?
think again about it.
think again about it.
I think you and your husband should decide 1st.
Discuss and then only move further.
Discuss and then only move further.