Results 1 to 2 of 2

Hybrid View

  1. #1
    Join Date
    Jan 2011
    Posts
    1

    Default Buying a House Before Divorce Settlement

    My question involves a marriage in the state of: Kentucky

    My wife and I are separated and she lives in TN. We have been separated (not legally) for 18 months and marriage, including the separation, has totalled 3 years. I have my house in KY, she has her house in TN- which we both owned prior to our marriage. However, she is buying another house, before selling the previous one, which she is going to do no matter what. We have a very good mutual agreement for divorce and agree on everything, ecept her buying the new house without selling the other one first. I know I can get a Quit Claim deed to keep me off the deed but if she buys the house and we're still legally married, divorce paperwork will not be completed by closing, am I obligated on the loan if she defaults? And can I get a letter from her Mortgage company relieving me of all debt?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Buying a House Before Divorce Settlement

    You're liable on the loan unless and until you're released by the lender. That normally won't happen unless your spouse refinances, but you and she are free to explore if they'll remove you from the mortgage based upon her income and credit history.

    1. Sponsored Links
       

Similar Threads

  1. Buying a House After Owner's Divorce
    By fallonboy in forum Buying, Selling and Conveying Real Estate
    Replies: 1
    Last Post: 07-25-2011, 03:01 PM
  2. Rental Agreements: Buying A House With A Tenant
    By Aretelio in forum Landlord-Tenant Law
    Replies: 1
    Last Post: 06-27-2007, 03:30 PM
  3. Co-Ownership: Buying House With Boyfriend
    By snickers in forum Real Estate Ownership and Title
    Replies: 8
    Last Post: 06-01-2007, 11:26 AM
  4. Buying out a co-owner of a house
    By dale17 in forum Real Estate Ownership and Title
    Replies: 2
    Last Post: 01-05-2006, 08:41 AM
  5. Buying a new house
    By brianjagan in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 12-30-2005, 12:23 AM
 
 
Sponsored Links

Legal Help, Information and Resources