I was divorced in 2012 and kept the house that my ex-wife and I lived in. She remarried a few weeks after the divorce. I've asked for a quit-claim deed from her so that I can seek a loan modification on the mortgage and she said that her current husband will need to sign something saying that he has no interest in the property, since its part of her net worth. Is that true? It seems like he might have a claim if they divorced or she died, but does he still have an interest if the property is owned by she and I? I want to make sure I'm not being tricked.
Answer
Your wife is telling truth. He does not have an ownership interest, but under old divorce and estate laws, if he doesn't sign off on the sale, he could potentially reclaim the home later if he outlives her, which makes the title unmarketable to a person buying it if he doesn't sign off on the sale. He isn't entitled to any profit (unless you have other arrangements worked out, your ex-wife can probably demand half of the profits), but no closing attorney will certify the title without him signing.
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