Wednesday, November 30, 2011

Can I sign my house over to my husband and make to where i'm not financially liable?

My husband and I are separating and I don't want the house but its in my name only. Instead of selling it can I turn everything over to him and me not me financially liable or it?|||If there is a mortgage, then the answer is NO. The lender will not do this. You and your ex would need to refinance.





Just by signing over title/deed, it does NOT get you out of being financially liable.|||If you own the property free and clear you could certainly transfer it to him. However, if you have a loan secured by it you cannot, since you would still owe the loan, and transferring the property could make that immediately due and payable.





He would need to get is own financing to pay off your loan in order for you to get out of responsibility for the loan. Don't let anyone convince you to sign a quit claim deed or any other deed without simultaneously paying off your loan at that closing.

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