ronofsandiago
Junior Member
What is the name of your state? CA
My wife and I are divorcing and we agreed that I should buy her out of her interest in the house. I understand that I have to get a refinance to get her name off the mortgage (and also so she can get her share of the house equity), and that she'd have to sign a Quitclaim Deed to get her name off the title. The problem is my wife's insisting on not handing over the Quitclaim until she gets the cash-out from the refinance. My questions are:
1) Can I get (and close) a refinance without her having to sign the Quitclaim immediately?
2) If NO to #1, can we use the escrow to handle the transfer of the Quitclaim and the loan cash-out? Also, will the escrow handle the recording of the new title using her Quitclaim?
3) Since the cash-out does not cover her full share of the equity, will the escrow allow me to deposit via check the remaining balance.
Thanks in advance for your answers.What is the name of your state?What is the name of your state?
My wife and I are divorcing and we agreed that I should buy her out of her interest in the house. I understand that I have to get a refinance to get her name off the mortgage (and also so she can get her share of the house equity), and that she'd have to sign a Quitclaim Deed to get her name off the title. The problem is my wife's insisting on not handing over the Quitclaim until she gets the cash-out from the refinance. My questions are:
1) Can I get (and close) a refinance without her having to sign the Quitclaim immediately?
2) If NO to #1, can we use the escrow to handle the transfer of the Quitclaim and the loan cash-out? Also, will the escrow handle the recording of the new title using her Quitclaim?
3) Since the cash-out does not cover her full share of the equity, will the escrow allow me to deposit via check the remaining balance.
Thanks in advance for your answers.What is the name of your state?What is the name of your state?