About a year ago, a friend of mine who lives in California needed to refinance her house. She bought the house in her name alone before she got married but the refi took place afterwards. And, she worked full-time but her husband was a full-time student with no income.
Just before the loan was about to close, her husband insisted that he be added to the title of the house. She didn't want to do it but because she was taking cash out and really needed the money, she compromised and promised that in return for him signing a quitclaim deed so they could fund the loan, that she would sign a piece of paper that he drafted that said, in essence, that she promised to add him to the title of the home within six months of the completion of the refi. She eventually signed the document and had it notorized, but never added him to the title on the home.
They are now contemplating divorce so I have three questions:
- Is the piece of paper she signed an enforceable contract? My gut feeling is that it's not since it doesn't seem to involve any compensation/consideration.
- If it is valid, could she try to have it voided based on the idea that she signed it under duress?
- Is she liable for any of the student loans he received during their marriage? She has not co-signed or guaranteed any of them. They are all in his name alone.
Thanks in advance for any responses.
Just before the loan was about to close, her husband insisted that he be added to the title of the house. She didn't want to do it but because she was taking cash out and really needed the money, she compromised and promised that in return for him signing a quitclaim deed so they could fund the loan, that she would sign a piece of paper that he drafted that said, in essence, that she promised to add him to the title of the home within six months of the completion of the refi. She eventually signed the document and had it notorized, but never added him to the title on the home.
They are now contemplating divorce so I have three questions:
- Is the piece of paper she signed an enforceable contract? My gut feeling is that it's not since it doesn't seem to involve any compensation/consideration.
- If it is valid, could she try to have it voided based on the idea that she signed it under duress?
- Is she liable for any of the student loans he received during their marriage? She has not co-signed or guaranteed any of them. They are all in his name alone.
Thanks in advance for any responses.