Transfer of Property and Debts

[Matt Good]

I'm trying to figure out what this means...

"Within thirty (30) days of the date of this judgement, each party shall execute, acknowledge and deliver whatever documents are necessary to accomplish the distribution of debts and property ordered by the court. The judgement shall operate to convey title to the party awarded the property if the other party fails to comply with this requirement."

My ex-Wife was awarded our house. No worries. However, I'm still on the deed/title and loan. She can't refinance and hasn't put any effort into selling. I'm trying to see if she's in violation and was supposed to move forward with transferring the title and loan to get me off of the hook. Our divorce was over one year ago.

Thanks!

 

[LdiJ]

I'm trying to figure out what this means...

"Within thirty (30) days of the date of this judgement, each party shall execute, acknowledge and deliver whatever documents are necessary to accomplish the distribution of debts and property ordered by the court. The judgement shall operate to convey title to the party awarded the property if the other party fails to comply with this requirement."

My ex-Wife was awarded our house. No worries. However, I'm still on the deed/title and loan. She can't refinance and hasn't put any effort into selling. I'm trying to see if she's in violation and was supposed to move forward with transferring the title and loan to get me off of the hook. Our divorce was over one year ago.

Thanks!

Well, it is a bit vague...and doesn't say that she has to refinance the house or sell it. You on the other hand have not done anything to transfer the deed to her either and that is something that only you can do. So you have violated the order but perhaps she has not.

In any case, you are actually better off not transferring the deed as long as you are still on the mortgage. I would recommend taking the order and getting a consult with a local attorney (or your divorce attorney if you had one) and getting an opinion on what, if anything you can do at this point. Is she paying the mortgage on time?

 

[latigo]

I'm trying to figure out what this means...

"Within thirty (30) days of the date of this judgement, each party shall execute, acknowledge and deliver whatever documents are necessary to accomplish the distribution of debts and property ordered by the court. The judgement shall operate to convey title to the party awarded the property if the other party fails to comply with this requirement."

My ex-Wife was awarded our house. No worries. However, I'm still on the deed/title and loan. She can't refinance and hasn't put any effort into selling. I'm trying to see if she's in violation and was supposed to move forward with transferring the title and loan to get me off of the hook. Our divorce was over one year ago.

Thanks!

Your ex was awarded sole ownership of the marital home without any strings or conditions attached that might somehow eventually relieve you of the mortgage debt and you have no "worries"?

If you manage to pull your head out of the sand, the first thing you might observe is that you were pitifully represented in that lawsuit.

 

[latigo]

Well, it is a bit vague (?) . . . .

Perhaps as a layperson you should have a professional explain to you why that particular clause alone is inadequate for the protection of the OP, but certainly not "vague"!

 

[Matt Good]

Thank you all for your replies. I'm assuming that I need to consult a divorce attorney? Real Estate attorney? I just need to figure out what that paragraph means before I make my next move. It is pretty vague you're right.

 

[Matt Good]

No she's not defaulting. She's unable to refinance because of a loan that she's still on with her ex. Yeah, I know... She's willing to sell however she wants to relocate and is having trouble finding work... I should've made her sell per the divorce decree. Many people make this mistake. I thought that the divorce decree sufficed but creditors don't care I know that now. As of now it's really just a question of option a, will she sell it to me, or b she begins to default, moves out, I take over and refinance. Any other strategies? I'm still able to purchase another mortgage provided I have proof that she's been paying on hers. Yes she cooperates. No attorneys were ever involved.

 

[Bali Hai]

No she's not defaulting. She's unable to refinance because of a loan that she's still on with her ex. Yeah, I know... She's willing to sell however she wants to relocate and is having trouble finding work... I should've made her sell per the divorce decree. Many people make this mistake. I thought that the divorce decree sufficed but creditors don't care I know that now. As of now it's really just a question of option a, will she sell it to me, or b she begins to default, moves out, I take over and refinance. Any other strategies? I'm still able to purchase another mortgage provided I have proof that she's been paying on hers. Yes she cooperates. No attorneys were ever involved.

No attorney's were involved? Not so smart.

 

[Matt Good]

No attorney's were involved? Not so smart.

You're absolutely right.