QUESTION

When a marital property is sold after a divorce are both parties on the loan to split the proceeds?

Asked on Jun 28th, 2013 on Real Estate - Colorado
More details to this question:
My X has been renting a home that still has not been refinanced to their own name. Could I receive financial compensation from a sale or rental proceeds?
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1 ANSWER

Litigation Attorney serving Castle Rock, CO
3 Awards
The ownership and the proceeds from the sale of the property should be determined by the terms of the divorce.  If your X has been granted ownership the fact that you remain liable for the mortgage does not make you a party to the proceeds of the sale of the property but the property should be refinanced to remove your liability from the loan. Hope that helps.  
Answered on Jun 28th, 2013 at 4:40 PM

Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.

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