So we've got one piece left of the pie to get rid of.....the house. She has already agreed to let me have it and has already quit claimed it over to me. We still have the loan to take care of though. I was going to refinance it to get her name off the loan, but I am considering selling it now. We have already filed the separation agreement noting that I will be taking over all of the house. Do I even need to refinance first in order to sell it? I don't want to give her ANY of the profit.
IANAL, but I suspect until the ink is dry on the divorce decree, nothing is final. If you sell before that, the profit on the house is marital assets to be divided.
Keep the house, refi in your name and have the realtor waiting for you to return from the attorneys office the day the divorce is final.
I have a little perspective because I went through this. As far as the loan itself goes, that bank doesn't care as long as it is paid in full. You don't need her signature anywhere in paying off the loan (using proceeds from the sale). If you have a quit claim deed signed by her, then you legally own the house - she has legally transferred/relinquished her claim to the property over to you. You can sell the house, and the quit claim deed will be included in the documentation during the sale. All of that said, divorces have ebbs and flows... She may have signed over her interest of the property, but if you, for some reason, sell it and collect before the divorce is final, she could change her mind and come after her portion of the proceeds. Mind you, she's not coming after the property, she's coming after the money. I'm not a lawyer, but like I said, been through it. Armor up and be very deliberate with everything you do until the legal stuff is finalized.
If you have ANYTHING financed jointly (cars) make sure they get refinanced as well. I had a buddy that allowed his ex-wife to keep his name on her car and within a few months she was defaulting on it. After 20 months of being late she finally let it get 90 days and according to his decree he was able to repo the car and bring it up to date on payments. Then turned around paid of the remainder of the lien and made 5K But his credit was crap for a few years..
I am the opposite. I am glad i never read stuff like this before i got married. I would be missing out on something awesome.
Absolutely make no major moves until the divorce is final. When I bought my current place my realtor and mortgage guy (acquaintences of mine) refused to do anything until I was legally free! Cheers, Lee S.
Spot on. Dont do sh!t where you will get any money until the day the divorce is final. A good lawyer will find a way to take half of it from you. Near the end of my divorce after we had filed and been seperated for a year or so I bought a boat. Being smart enough to talk to my lawyer before I did he advised me to finance everything, taxes, registration, all of it. During our last mediation her lawyer brought up we needed to find out how much the boat was worth, what I had financed etc because she was entitled to half the equity. He was really deflated when I told him I didnt put a dime down and also rolled the taxes and registration into the financing. My lawyer said the negative equity would be used against my net worth. Hahahahaha, greedy b!t@h. Save all your money in cash. At the end of this you aint gonna be friends so look out for yourself.
A bad woman is like a boomerang. You think you threw it away and then it comes around and knocks you out. :down: Don't forget valentines day is coming up.
When I got divorced years ago she waited to go insane until I had bought 2 jetskis, then she went crazy enough for me to divorce her. They were financed to the nuts. She wanted them, I gave them to her. The judge ordered that she refinance them in her name within 30 days of the order. The look on her face was priceless. She thought she got to take all of our stuff that was financed but that I would still have to pay for it. Silly bitches.
cars and everything else are refinanced already. Only the house remains. I think I will be still until the D is final.