| Home Equity and Quit Claims What is the name of your state? Georgia
My husband and I are divorcing and trying to negotiate everything up front. The only issue we have is the house. I want off of the loan, but I don't know what kind of agreement I can do that allows for me to retain my investment. Basically what we have is a house worth $350,000 with a mortgage of $150,000 left. My husband has agreed to re-finance and take me off the loan and I'll file a quit claim deed, but I'm not sure how to handle the equity. I don't want him to lose the house and I'm willing to take no cash for my $100,000 equity unless he decides to sell the house. Is there a way for me to keep the house as an investment without being on the loan or forcing him to pay me the equity now?
Eventually, he'll probably sell, but I want it to happen when he's ready...not because he needs to in order to afford to continue to live there.
Any ideas on the easiest way for me to retain my investment without him paying me any cash until it sells?
Thanks so much! |