Legal Question in Real Estate Law in Virginia

deed of gift

if i sign a deed of gift to my ex-wife does the mortgage on the house stay in my name? in signing the deed of gift can she refinance? as part of our divorce agreement, she lives in the house and makes the payments. i want to give her sole title but i also want her responsible for the mortgage. how do i do this? also, when originally purchased i used my v.a. loan, will this free-up my v.a. loan so i can use it for another realestate aquisition?


Asked on 3/03/07, 1:57 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: deed of gift

Irrespective of the agreements, executed gifts, orders, or other dispostions regarding the house which may emerge from your divorce proceeding, you will only be released from your obligations under the mortgage if the lender/owner of the note allows for it. (Not too probable, taking a realistic view of matters.) Therefore, to answer your first inquiry, if you do a deed of gift to your former wife, you'll remain, nevertheless, on the house note unless the mortgagor allows for your release.

Read more
Answered on 3/03/07, 4:55 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Virginia