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Home Questions Legal removing my name from title??
removing my name from title??
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August 20, 2009, in Legal

I have gone thru divorce. My ex was awarded sole possession of our home, although my name is still on the Title and loans. My ex has not made a pmt on this house since 9/2008 and he keeps asking for modifications, keeping the banks running in circles and delaying having to make any pmts.on the house. It has been in foreclosure for some time, though currently they tell me they are "working" with him.
My question is this: Do I file papers and remove my name from house and loans since he was awarded them? This is ruining my credit obviously, and I am not sure whether to hang on or just remove my name from everything, if I can do so.
Thank you.
Sheryl Ellsworth

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 Tags: house in Pinal County


Answers

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Alicia Naiman    August 26, 2009

You will not be able to simply remove your name from the loan. The home would need to be refinanced in your ex-spouse’s name only. You can file a quit claim deed to remove your name from the title, but it will not relieve your obligations of the loan. You may be able to short sale the property if it is worth less than market value. However, you must stay on the title to complete a short sale (at least in CA). Consult an attorney, tax advisor, and an experienced short sale Realtor in your area to obtain additional information.

*This should not be construed as legal advice. I am not an attorney.


Alicia L. Naiman
CA Realtor®, CA Real Estate Appraiser
Specializing in Sacramento, Placer and El Dorado counties
http://www.SacramentoRealEstateSearch.com



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