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Additional Details
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Additional Details
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chyaynn | I am buying my ex wife out on our house can her name stay on the deed? |
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Christopher G
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You may be setting yourself up for problems by doing that. You may not be able to sell the house, refinance it, or take out a home equity loan without her permission. Plus, if you remarry, what will your new wife think?
Most importantly, there is liability. Suppose she causes some kind of accident & is sued? If her name is still on your deed, the plaintiff may try to claim your house in the settlement. |
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acermill
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Yes, she could stay on the deed, but you really do not want that to occur. The purpose of buying her out is to REMOVE any ownership she has in the property. If you allow her name to remain on the deed, she will still have half ownership in the property, regardless of how much money you have paid to her. |
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estielmo
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If her name is on the deed she owns half of it. You need her name off. Have her sign a Quit Claim Deed. But for the protection of both of you consult your divorce lawyers. |
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convey766
 |
I too have to ask why you would want her name to remain on the Register (deeds). Without all the facts its hard to give your proper legal position but if you are paying your wife either the amount agreed between you which amounts to her share of the property or the amount set out by the Court then you should ensure that before any money is handed over to her a Transfer Deed is drawn up to remove her name from the Register. If you do not do this then there is nothing stopping her from claiming more money in the future if for instance you wanted to sell.
The procedure is called a Transfer of Equity and any Lawyer can handle this for you. Its relatively simple.
Hope this helps |
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justme
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She will probably sign a quit claim deed. It basically says she has no right to the property anymore. If it is mortgaged, her name will still be on the mortgage though. It is more technical then what I am describing but look up Quit Claim Deed. Here is a sample of onehttp://www.ilrg.com/forms/quitdeed.html
Edit: I am the one who signed off of a quit claim deed. There was still a mortgage through the bank. MY name is still on the mortgage. I have no rights to the property but I can still be held responsible for the monthly mortgage. Get a lawyer to explain it to you. Perhaps it is different laws in different states. thankfully my ex has been living in the house forever and there has never been a problem. |
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?
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indeed :) |
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paintedhorse30
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Yep--she can also quick claim it to you. |
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glenn
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Real Estate laws are different in every state. If I were in your shoes I would think way ahead. I would want to be sure that when I sell the house that the title company does not require me to go back and get "one more signature" from her.
Pay a little money now and get help from a title company now so you don't have to do that later. |
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src50
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Why would you want that? If you are buying out her interest, wouldn't you want full title in exchange? |
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botygy
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I guess, but why would you want that? |
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organizeyourbiz
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Your question makes absolutely no sense at all. Are you both on title? Will she remain on title afterwards? What does the dissolution state? |
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