QUESTION
How do I go about removing my name from the house once I receive the equity from the house?
Asked on Nov 20th, 2013 on Divorce - Florida
More details to this question:
I am divorcing my husband and I'm am keeping the equity from the house and he is keeping the house. How does he go about refinancing (giving me the equity) when my name is on the house? He will be financing based upon his own income, not any of mine. I want no interest/liability in the property once I receive the equity. Can this be done before we are divorced? If so, how do I remove (sign off) my name from the property? Thank you.
6 ANSWERS
2 Awards
He will have to refinance the home and you can do a Quitclaim deed. Generally the bank doing the refinance will help you with the deed.
Answered on Nov 25th, 2013 at 12:24 PM
This response is general in nature and should not be considered legal advice.
Family Law Attorney serving Peoria, AZ
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The Law Firm of Jessica M. Cotter, P.L.L.C.
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In Arizona, and generally speaking, you would do this by your signing a quit-claim deed to him, which would be recorded at the same time he is obtaining the funds for the refinance. The escrow instructions should provide that whatever the amount of money you are to receive from the refinance is paid directly to you. You might also have to sign a community property disclaimer deed assuring the property is only in his name. You should be sure to have your interest protected by consulting with an experienced family law attorney, and a relator.
Answered on Nov 25th, 2013 at 12:24 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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You will give him a quit claim deed. I don't know if they will do this, but if I were you, I would execute the quit claim deed and give it to the escrow company. Upon his obtaining the refinance and you get your money, the quit claim would be recorded by the escrow company.
Answered on Nov 25th, 2013 at 12:23 PM
Alternative Dispute Resolution Attorney serving Chandler, AZ
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Cox Sandoval Law, PLLC
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You should be able to sign a quitclaim deed to him upon closing of the refinance. If you do this prior to a divorce, you will want to be sure that your agreement is documented in writing, and that you are keeping a certain amount of money as equity and payment for your interest in the home, and you are waiving any remaining interest in the home. I would suggest that you consult an attorney about this and having a settlement agreement drawn up.
Answered on Nov 25th, 2013 at 12:22 PM
You do it as part of the refinancing escrow. If you have any questions, consult a family law/real estate attorney for assistance with the paperwork.
Answered on Nov 21st, 2013 at 5:34 PM
Social Security Disability Attorney serving Melbourne, FL
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Law Office of Robert E. McCall
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You really need to talk to your attorney about these mechanical issues.
Answered on Nov 21st, 2013 at 5:33 PM