Protecting myself in a property division refinance

[jlscielo]

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

I own a $180,000 condo property with an ex-boyfriend. I cannot afford. He can. It is my primary residence and I live alone in it. In order for him to refinance as I have asked him to do and it is the option I expressed to his lawyer I needed to take, he is dragging his feet on it. When do I need to sign over the quit claim to him? Before or after the refinance?

My options were: I take it over and release him (not financially feasible), or he take it over and refinance and he releases me. I said yes to this back in April.

I am asking him for a small payoff on the property so I can move on with something (approx $5,000 hopefully) and the amount is not agreed upon. (He makes 10X my salary and wants me to just sign it over for $400.00 - very generous, that is why no longer together, not really) I do not want to forfeit my chance to get a small payoff , but I want him to refinance asap. Current owed on mortgage is less than what property is worth.

I just need to know what to do to sign over the property without making myself vulnerable to being thrown out without proper notice and just giving him this nice property for nothing. Sucks to be poor. Ladies never make a real estate decision thinking you are in love, look at what you can afford on your own or get it in writing! I work hard in science doing what I love.

Please help, thanks.

[dmiller12]

When he refinances, the title company or closing attorney will take care of your release and satisfaction. A deed whether quit-claim or other will be signed by him and you conveying title to him.

You should have an attorney review any agreement his attorney drafts with regard to how much money you'll receive at closing.

[jlscielo]

Thank you for your reply. I will be sure to do that.