getting divorce- what about house?

[momi171]

What is the name of your state?What is the name of your state?NC Purchased home 3 years ago in aug. Husband is on loan co signed by my grandmother-we both had credit issues but he was working at the time of purchase- I was pregnant. I cleared up his credit (was less than mine to fix) My name is on house deed. Fast forward to today- Husband has been unemployed 2 YEARS and I have been sole income earner 40,000-60000 per year 100%commission same company almost 3 years, still have same credit issue as before. Have had enough of him receiving credit for all of my hard work while I receive none(paying mtg under his name but I am trying to protect grandmas credit. Filing for divorce soon, what are my rights? How hard for me to quick claim him and get the note in mine and grandmas name or just mine to protect the equity I have built and keep my house?What do I do?

[BelizeBreeze]

Is his name also on the deed?

[momi171]

yes all 3 of us are on the deed he and my grandmother are on the loan

[momi171]

does it matter that he has no income for last 2 years and i do? Can he just live here while I pay the bills and he is a bum?

[LdiJ]

Originally Posted by momi171

What is the name of your state?What is the name of your state?NC Purchased home 3 years ago in aug. Husband is on loan co signed by my grandmother-we both had credit issues but he was working at the time of purchase- I was pregnant. I cleared up his credit (was less than mine to fix) My name is on house deed. Fast forward to today- Husband has been unemployed 2 YEARS and I have been sole income earner 40,000-60000 per year 100%commission same company almost 3 years, still have same credit issue as before. Have had enough of him receiving credit for all of my hard work while I receive none(paying mtg under his name but I am trying to protect grandmas credit. Filing for divorce soon, what are my rights? How hard for me to quick claim him and get the note in mine and grandmas name or just mine to protect the equity I have built and keep my house?What do I do?

Its probably not going to be a simple as you think. Most likely he IS going to be entitled to some of the equity. However since there are three people on the deed...it won't be 50%. The home however will have to be refinanced to remove him from the mortgage, and most likely to pay him his share of the equity as well.

[nextwife]

A spouse, male or female, is normally entitled to their proprtionate share of the home equity in the event of a divorce. The court cannot decide that, because he is a male who stayed home and didn't work for a time, he is any less entitled to his share of equity than a female who stayed home during some of the marriage and then divorced. The income you generated and used for payments during the marriage was marital income, therefore it is considered as BOTH of yours.

[dallas702]

.....and when the time comes for the deed change, you'll need to ask for a "quit" (not "quick") claim. His signature will release him from any rights to the property.

[url]http://www.kaktus.com/real-estate-forms/forms/quitclaim-deed.html[/url]

[hookup]

My wife and I are on a deed to home we have been in just over a year in the state of CA. The house was purchased from the selling of our first house we sold. We recently re-financed the home and paid all are outstanding bills. The property still has about a hundred thousand dollars of equity in it. Can she buy me out without re-financing the home in her name? If she does buy me out will that release me from financial liability concerning the property, and if not how do I establish financial separation from the property? Can she establish a way of not paying me anything concerning the equity of the house?

[nextwife]

Hookup, if you would please start your own thread, and then delete this post, we can advise on YOUR legal issue. Responding would confuse people about what was going on in the thread our poster started