Refinancing house in divorce settlement

[MAZADE]

What is the name of your state (only U.S. law)? NY

Hi, I hope someone can help me...I am very stressed out tonight about this...I have a settlement in principle with my wife for me to buy her out of the house...we settled in principle all major issuse of this divorce, including custody, child support, house buy-out, pension, etc....my wife is currently on the deed of the house however is not on the current mortgage...she will not be on the refinance mortgage...she wants to be at my closing with the bank..i told her she is not needed and not welcome..all i need from her is a legal stip stating that she is giving up all rights to the house upon me paying her the agreed price...this may become a deal-breaker, as i will not close with her there...she has no interest in my new refinance...her only interest is the check i will give her...does she have a right to be at my closing? any advise would be appreciated...thanks.

 

[mistoffolees]

What is the name of your state (only U.S. law)? NY

Hi, I hope someone can help me...I am very stressed out tonight about this...I have a settlement in principle with my wife for me to buy her out of the house...we settled in principle all major issuse of this divorce, including custody, child support, house buy-out, pension, etc....my wife is currently on the deed of the house however is not on the current mortgage...she will not be on the refinance mortgage...she wants to be at my closing with the bank..i told her she is not needed and not welcome..all i need from her is a legal stip stating that she is giving up all rights to the house upon me paying her the agreed price...this may become a deal-breaker, as i will not close with her there...she has no interest in my new refinance...her only interest is the check i will give her...does she have a right to be at my closing? any advise would be appreciated...thanks.

Since you seem to owe her money from the refinance, then she would be foolish to sign a quit claim deed without having the money in hand. It is unreasonable for you to expect that she would just sign the quit claim and hope that you follow through on paying her without legal action.

I would suggest that you either live with the fact that she still has an interest in the house until closing when she gets her money or offer to let her have an attorney at the closing to deliver the quit claim deed in exchange for her check.

 

[LdiJ]

What is the name of your state (only U.S. law)? NY

Hi, I hope someone can help me...I am very stressed out tonight about this...I have a settlement in principle with my wife for me to buy her out of the house...we settled in principle all major issuse of this divorce, including custody, child support, house buy-out, pension, etc....my wife is currently on the deed of the house however is not on the current mortgage...she will not be on the refinance mortgage...she wants to be at my closing with the bank..i told her she is not needed and not welcome..all i need from her is a legal stip stating that she is giving up all rights to the house upon me paying her the agreed price...this may become a deal-breaker, as i will not close with her there...she has no interest in my new refinance...her only interest is the check i will give her...does she have a right to be at my closing? any advise would be appreciated...thanks.

I agree with Misto. If she came here and asked about this from her perspective, we would tell her to insist on being present at closing and to only hand over the quit claim deed if she is also being handed a check at closing.

Why don't you want her there? If it is just pride/ego, get over it. If you lied about the home's fair market value somehow, and you don't want her to find out...then you made a serious mistake.

 

[ray25]

I think he might be worried about her knowing his business as far as the numbers involved in the refinance. If that is the case OP, put it out of your mind. She can find that information if she really wants to know it. It's all a matter of public record. In my state, I can just go to a website and find out everything I ever wanted to know about a property and then some.

Just let her be there and move on with your life.

 

[nextwife]

She could either pre-sign and have the title company hold the deed in trust, to disburse in accordance with her (or her attorneys) "letter of instruction" and she need not physically attend closing to protect her interests. Or, she could simply be placed in a different closing room, and the docs shuffled back and forth. They need never be in the same room.