Divorce question about joint property

TwoChicks

Songster
9 Years
Feb 9, 2010
280
0
119
Greer, SC
Anyone have personal experience in this area?

Friend and ex-to-be settled this week and they have a joint property that he was granted 100% ownership of. Her name is on mortgage and deed. How do they get her name off?

Also, she was given the responsibility of a student loan debt for her daughter. It's not in her name, though. It's in my friend's and the daughter's. How will they get their name off and put hers on the debt so it doesn't continue to affect their credit if she decides not to pay it off.
 
Last edited:

chickencoop31320

Have bator, will hatch
11 Years
Sep 24, 2008
1,168
2
159
Southeast Georgia
They need to talk to the mortgage company and give them the divorce decree and same thing for the loans.
I'm pretty sure the divorce has to be final before they can change anything.
 

TwoChicks

Songster
9 Years
Feb 9, 2010
280
0
119
Greer, SC
So once it's in the decree, the mortgage/loan companies have to abide by it? They can't just say "Nope, her credit sucks, we're not changing it."
 

BigBadCryBaby

Chirping
9 Years
Jan 29, 2010
248
0
99
S.E.Wisconsin
Quote:
Exactly. She might have quit claim deeded it to him without understanding. In any case, if she's on the mortgage he'd have to refinance anyhow, unless she agrees to continue to be on the note.
 

chickencoop31320

Have bator, will hatch
11 Years
Sep 24, 2008
1,168
2
159
Southeast Georgia
Quote:
As far as getting names changed on legal documents: The divorce will have to be FINAL first, not just in paper work.
And I'm not sure how long it will take to affect the credit scores, could be a while.
My husband still has things on his credit report that are from his ex-wife writing bad checks - THAT SHE SERVED JAIL TIME FOR- and they refuse to remove them from his credit... it's been YEARS at this point.
 

scbatz33

No Vacancy, Belfry Full
11 Years
Jan 23, 2009
7,000
26
251
South GA
From what I know about it, and every state is different, the person who was awarded the property will have a certain amount of time to have it transferred soley into their name. At that point if they can not get teh loan refinanced due to credit issues, the court will order the property to be sold.

At least that's how it worked in PA for my BIL.

As for the student loan, I have no idea. Maybe the same thing? or at least your friend has a legal recourse to sue if the lady doesn't pay since she's court ordered to cover the expense. It will probably mess up her credit if the lady doesn't pay. There's not a lot I know youcan do to get out of that one if she can't refinance it.
 

TwoChicks

Songster
9 Years
Feb 9, 2010
280
0
119
Greer, SC
Quote:
Exactly. She might have quit claim deeded it to him without understanding. In any case, if she's on the mortgage he'd have to refinance anyhow, unless she agrees to continue to be on the note.

That's what I'm thinking. He'll have to refi to get her name off the mortgage, cause I know I had to when I got divorced.

When is a quit claim used, if ever?
 

saddina

Internally Deranged
10 Years
May 2, 2009
7,993
19
261
Desert, CA
Quote:
Exactly. She might have quit claim deeded it to him without understanding. In any case, if she's on the mortgage he'd have to refinance anyhow, unless she agrees to continue to be on the note.

That's what I'm thinking. He'll have to refi to get her name off the mortgage, cause I know I had to when I got divorced.

When is a quit claim used, if ever?

When my father-in-law split from his 3rd wife after 3 years of marriage he offered 50,000 cash if she'd quit claim on the house (she begged him to add her to a paid off house "because your kid hates me and will leave me homeless"). Since the house was paid off before they were married it was a no-fuss transaction, fill out a form, have a lawyer review it, money for paper.
 

ChickenToes

Songster
11 Years
May 14, 2008
2,141
11
191
NE Wisconsin
Here's the basic definition of a quit claim: A general release of all claims or rights to a parcel of land.

Here's one example of when a quit claim would be used. We own our land through a land contract, so our names are not actually on the deed. My parents own the land, and when we pay off the mortgage, they will sign a quit claim deed, giving up any interest/claim they have on the property.
 

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