Simple Questions!

[TheBreenis]

What is the name of your state? KY

I'm 20 and my wife is 20. We have a house in both of our names, so I understand that I will have to refinance the house. No kids. We have agreed on how to split everything (house included), so I was curious as to if I had to list assets on the Finance Statement Affidavit. It's asking for things like Cash, Stock, Bonds, Real Estate, Automobiles, Contents of home or apartment [household good $ furnishings], Jewelry...Do I really have to list all of that if I am filing the forms in way that shows we've already split everything?

[Ohiogal]

Originally Posted by TheBreenis

What is the name of your state? KY

I'm 20 and my wife is 20. We have a house in both of our names, so I understand that I will have to refinance the house. No kids. We have agreed on how to split everything (house included), so I was curious as to if I had to list assets on the Finance Statement Affidavit. It's asking for things like Cash, Stock, Bonds, Real Estate, Automobiles, Contents of home or apartment [household good $ furnishings], Jewelry...Do I really have to list all of that if I am filing the forms in way that shows we've already split everything?

Yes you do have to list everything.

[TheBreenis]

Okay, so in my affidavit, I fill out my assets, and in her's, she will fill out her assets?

And, where Real Estate is listed, do I list the value of our house?

AND! Under my Liabilities (where I list the balances on my credit cards), do I list the remainder of my mortgage?

Thanks for the speedy response. =)

[LdiJ]

Originally Posted by TheBreenis

What is the name of your state? KY

I'm 20 and my wife is 20. We have a house in both of our names, so I understand that I will have to refinance the house. No kids. We have agreed on how to split everything (house included), so I was curious as to if I had to list assets on the Finance Statement Affidavit. It's asking for things like Cash, Stock, Bonds, Real Estate, Automobiles, Contents of home or apartment [household good $ furnishings], Jewelry...Do I really have to list all of that if I am filing the forms in way that shows we've already split everything?

I am going to disagree slightly with Ohiogal.

You need to write out, in detail, your agreement regarding the house and list a time frame in which you agree to refinance the house. Due to your ages, I am assuming that you have little to no equity in the home.

I would also recommending writing out in detail, any agreements you have regarding cars and major items of furniture or appliances. Any cash accounts or debts should also be specifically detailed.

If you have already physically split everything else (its all in the possession of the person who is going to keep it) then you can simply say that all other marital and personal property has been divided and is in the possession of the spouse that is keeping the property.

My divorce agreement simply stated that all property had been previously divided However, we had fully done EVERYTHING in advance. Including refinancing of real estate, cars, and debt.

[TheBreenis]

So, instead of listing all dollar value in the affidavit of assets, you just had a separate form showing how you split everything else?

[Ohiogal]

Ld how are you disagreeing with me? The court is going to need a disclosure of all assets and liabilities with the divorce paperwork.

[LdiJ]

Originally Posted by Ohiogal

Ld how are you disagreeing with me? The court is going to need a disclosure of all assets and liabilities with the divorce paperwork.

You made it sound like they had to list every little thing. I am simply saying that if they have already divided everything, that they should spell out the major things and then just state that everything else has been divided.

[LdiJ]

Originally Posted by TheBreenis

So, instead of listing all dollar value in the affidavit of assets, you just had a separate form showing how you split everything else?

Instead of an affidavit of assets, you can draw up your own agreement spelling out how you have divided the assets and debts.

[Ohiogal]

Originally Posted by LdiJ

Instead of an affidavit of assets, you can draw up your own agreement spelling out how you have divided the assets and debts.

Unless the court requires an affidavit to be filed. It is very possible that the court requires such an affidavit to be filed even if there is a separation agreement.

[TheBreenis]

Semi-off-topic:

Anyone know off the top of their head if I HAVE to refinance to get her name off the mortgage? I'd really just like to take her name off and be done with it.

[nextwife]

Would YOU want your credit tied up into a property that you no longer owned? Would you want to still be legally liable for the mortgage, yet not even own the house any more?

[majomom1]

Originally Posted by TheBreenis

Semi-off-topic:

Anyone know off the top of their head if I HAVE to refinance to get her name off the mortgage? I'd really just like to take her name off and be done with it.

Yes. You do have to refinance to get her name off of the mortgage. She will need to do a Quit Claim for the property, but she should not give this to you until you have obtained refinancing.

You also need to include a specifice time period to refinance and that the house will be put on the market for sale if you cannot obtain that financing before that date.

[nextwife]

Originally Posted by majomom1

Yes. You do have to refinance to get her name off of the mortgage. She will need to do a Quit Claim for the property, but she should not give this to you until you have obtained refinancing.

Technically, the transfer of the QC deed needs to occur simultaneously with the refi closing. You cannot close on a refi in your name alone if she is still on title. So the deed would be delivered AT the refi closing, not after it.