getting name off deed
I am in the process of splitting up with my husband. We have purchased a home. I need some help in finding out how to get my name off the property/deed and mortgage. I need to know if I decide not to live in the house, am I still obligated in making monthly house payments. I also need to find out what options I have to getting out of this messy situation. Any information would be greatly appreciated.
HI lilj:
In order to get off the deed you can execute a quit claim deed conveying your interest in the property to your husband. In terms of getting off the loan/mortgage, your husband will need to refinance the property and execute the note and mortgage solely in his name. Alternatively, you can enter into a novation releasing you from the note. The bank will have to consent to this as novation is generally a 3 party agreement (you, your husband, the bank). As you are in the process of a divorce, my best advice would be for you to consult with an attorney to discuss your rights in this regard.