Divorce and Mortgage?

Question

My husband and I are splitting up and I'm trying to decide what to do with my house. I say "my" house because the mortgage is only in my name and I got the house before we got married. He is not even a co-signer for the mortgage.

My question is...even though his name is not on the mortgage, can I leave the house with him? Is there a way to sign it over to him and take my name off of it?

Answer 1

It sounds like you need a quick deed. Here's more info.......

http://www.legalforms.com/legalforms/mor...

I went through a similar situation but I kept the house......and sent him walking....literally.:)

Answer 2

Easy to do everything you suggest.  The title company you used when you bought the house will do all the paperwork for you. If he doesn't pay the mortgage, your credit will be ruined. You obviously trust him not to do that.

Answer 3

if the house is paid off then you can do what you want with it.  if you still have a mortgage then you can only sign the house over to him with the approval of the mortage company.

Answer 4

you can deed it over to him, but the lender would not be pleased because you are still liable for the debt.  The divorce decree can spell out who gets the house and who makes the payment.  that would be the easiest, but once again, the bank would have to agree on your husband as the borrower.

Answer 5

Since you are the only one on the mortgage this is pretty much all yours and will stay all yours.  Possibly, depending on the state you are in, he could say he has some rights towards partial ownership of the house, but sounds like you are in a negative equity situation and this problem is completely moot.  

Anyhow, if you did sign the house over to him via a quit claim deed (and he was willing to take it), the mortgage would nonetheless remain in your name and would also probably be called, meaning you'd have to pay it off immediately.  Without a house this would be rather hard to do, so the bank would take the house anyhow - destroying your credit in the process.  So the mortgage is all your problem and no way to get this changed (short of paying it off) and thus the house will likely remain all your problem too.

Answer 6

You might be able to sign over your interest in the deed, but would still be responsible for the mortgage - not a good idea.  The lender would have to agree to refinance the mortgage in your husband's name for you to get off of it