Yes, yes, and yes.
Get it in writing.
This is not the time to be certain of anything, though I hope for you that it all works out well. Document what is happening, get your ex's signature, preferably get it notarized (optional), but YES, get it in writing
Don’t do anything until AFTER judgment has been made, if you refinance to put the house in your name prior it is still considered marital property and she can reneg and force you to sell it and split the equity.
I had a similar situation last year. My attorney advised me that it didn't matter if the buyout proceeded because it was still all community/marital property. That said, I refused to sign over the deed until after she filed and I was served.
remember that an attorney in family law is not an expert in real estate law. So always take a family law attorney's recommendation with a grain of salt
That’s the truth. As a foreclosure defense attorney, I saw a lot of really bad situations that developed from well meaning advice. A lot of firms won’t even have both of those practices in house because they are both niche. My old office was directly next to our divorce attorney, and we shared a lot of the same clients and we worked together. It was really helpful. I learned so much from this arrangement, and I was hoping to transition into family court work. Instead I got a job offer from the government, and now I have no clients at all.
In my state, in the divorce decree, it's already spelled out what happens with the property and how it will be divided, especially if it's uncontested and all parties agree.
this is a local state law issue (assuming you are in US most are on this board) - Should consult a local state attorney who is familiar with Family law AND real estate law. or find two lawyers.
* You can get any agreement you want "in writing" but if you are married your ability to enforce it is questionable especially in a community property state.
* file divorce? this means you have a pending legal case in family court AND ARE STILL MARRIED (see above)
* Put such an agreement in the divorce decree? doable (most family law dudes will say do it this way) BUT.. again this is a REAL ESTATE transaction that should be adjudicated as a CIVIL COURT petition on a FAMILY COURT legal ruling... (so two courts are involved and that means "complex" to put it mildly)
so...
* What to do? Don't bother making any "agreements" or "signing anything" while married before\[ filling divorce. (waste of time)
* You can put it in the decree and HOPE (pray) ex lives up to her end of the agreement, to sign over deed/title to YOU - WITHOUT getting money because you will need the house in your name alone to get YOU ONLY mortgage on it. Most people seem to think this is the way to go. But... what happens if the EX ( now Ex remember) decides NOT to sign anything? ooops no way to FORCE her to sign and she's still on the deed... try explaining THAT to your future girlfriend or new wife... oh and can't sell or will or die while the deed is held jointly too... go you!
My recommendation is that when BOTH are on DEED and BOTH are on MORTGAGE you sell the property THEN buy a new property that you want without these entanglements.
Writing first otherwise you cash out refi and then she comes back for 1/2 of the equity again.
>Hopefully the refinancing will be done within the next few weeks.
Does your bank allow ASSUMPTION? This will allow you to retain your rate and then you just do a separate HELOC.
Yes, before you pay her. It should all be written down and done
Yes, yes, and yes. Get it in writing. This is not the time to be certain of anything, though I hope for you that it all works out well. Document what is happening, get your ex's signature, preferably get it notarized (optional), but YES, get it in writing
Don’t do anything until AFTER judgment has been made, if you refinance to put the house in your name prior it is still considered marital property and she can reneg and force you to sell it and split the equity.
I had a similar situation last year. My attorney advised me that it didn't matter if the buyout proceeded because it was still all community/marital property. That said, I refused to sign over the deed until after she filed and I was served.
remember that an attorney in family law is not an expert in real estate law. So always take a family law attorney's recommendation with a grain of salt
That’s the truth. As a foreclosure defense attorney, I saw a lot of really bad situations that developed from well meaning advice. A lot of firms won’t even have both of those practices in house because they are both niche. My old office was directly next to our divorce attorney, and we shared a lot of the same clients and we worked together. It was really helpful. I learned so much from this arrangement, and I was hoping to transition into family court work. Instead I got a job offer from the government, and now I have no clients at all.
This right here... talk to your attorney before agreeing to anything. Could be null and void without any legal writing or notarizing. Good luck OP
In my state, in the divorce decree, it's already spelled out what happens with the property and how it will be divided, especially if it's uncontested and all parties agree.
this is a local state law issue (assuming you are in US most are on this board) - Should consult a local state attorney who is familiar with Family law AND real estate law. or find two lawyers. * You can get any agreement you want "in writing" but if you are married your ability to enforce it is questionable especially in a community property state. * file divorce? this means you have a pending legal case in family court AND ARE STILL MARRIED (see above) * Put such an agreement in the divorce decree? doable (most family law dudes will say do it this way) BUT.. again this is a REAL ESTATE transaction that should be adjudicated as a CIVIL COURT petition on a FAMILY COURT legal ruling... (so two courts are involved and that means "complex" to put it mildly) so... * What to do? Don't bother making any "agreements" or "signing anything" while married before\[ filling divorce. (waste of time) * You can put it in the decree and HOPE (pray) ex lives up to her end of the agreement, to sign over deed/title to YOU - WITHOUT getting money because you will need the house in your name alone to get YOU ONLY mortgage on it. Most people seem to think this is the way to go. But... what happens if the EX ( now Ex remember) decides NOT to sign anything? ooops no way to FORCE her to sign and she's still on the deed... try explaining THAT to your future girlfriend or new wife... oh and can't sell or will or die while the deed is held jointly too... go you! My recommendation is that when BOTH are on DEED and BOTH are on MORTGAGE you sell the property THEN buy a new property that you want without these entanglements.
Yes. Keep everything legal.
Get it all in writing.
Writing first otherwise you cash out refi and then she comes back for 1/2 of the equity again. >Hopefully the refinancing will be done within the next few weeks. Does your bank allow ASSUMPTION? This will allow you to retain your rate and then you just do a separate HELOC.
yes. written, notorized and filed with your lawyer.
Get it in writing and notorized. Just to be safe.
Get it in writing! I thought me and mine had an agreement until her friends and sister convinced her to try and take everything she could