In my husband's separation papers and divorce decree his ex-wife agreed in writing to take over the mortgage payments, which she has done for the past 3 years. She is currently renting the property and receiving all proceeds. At the time of the divorce, he was removed from the title. My husband and I are in the process of purchasing a new home and the lender is concerned that my husband's name is still on the loan,which is holding construction of our home up.She makes more money than my husband and the payments are not an issue for her. She too is interested in having him removed. Is there any legal documents we can have signed within the bank to remove him? If not, what process must he take to be removed?
2 Answers from Attorneys
Re: Mortgage Loan
Ask the ex-wife to refinance the home in her own name.
She may be able to get some cash out of the house, and reduce the mortgage payment. Your husband
would come off the loan.
Tom in Md.
Re: Mortgage Loan
He needs to excute a forefeiture of any interest in the property.
The house should have been re-titled during the divorce, but it appears that
this was not done. First, the title should be searced to find out how it is
currently titled...if it was not properly re-titled then use the
divorce papers coupled with a newly executed forefeiture of interest (which references
the prior divorce agreement) to effect a re-moval of his name from the title. This involves
having the house re-titled into her name only.
Alternatively, your husband's ex-wife could sign a release allowing him to close down any interest
that he may presently hold. This release will require not only proper form but must be notarized and recorded.
DISCLAIMER: NO LEGAL ADVICE HAS BEEN GIVEN IN THIS CORRESPONDENCE. WHEN CONFRONTED WITH A LEGAL ISSUE, THE
SERVICE AND ADVICE OF AN ATTORNEY SHOULD BE SOUGHT.
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