Legal Question in Real Estate Law in Maine

my boyfriend and his ex agreed in their legal separation to sell the marital home and split the equity. Given his current financial situation he would prefer to refinance the home and pay her off. She does not want to do this. can she stop him?

Asked on 4/21/15, 9:52 am

1 Answer from Attorneys

Jerome Gamache Ainsworth Thelin & Raftice, P.A.

Any Lender offering a refinance to your boyfriend will either require that he have title in his name as a result of a P&S with his Ex and at the loan closing transfer title, or that the Ex cooperate and sign the mortgage. So if a Lender is involved, he needs her help. One would think that for an added financial incentive she would, and she is holding out under the impression that she would net more money if the property were sold on the open market. However her net in a third party sale would have to take into account reducing her proceeds by the broker commission.

He could also seek assistance from a lawyer to obtain a legal modification to the separation agreement so that terms are established to pay her off instead of a third party sale.

Jerome J. Gamache, Esq.

Ainsworth Thelin & Raftice, PA

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Answered on 4/24/15, 5:45 am

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