Owelty Lien "AGAIN"

Clint J. Rushto · Nov 17, 2009

What is the name of your state (only U.S. law)? Texas is the state... I asked this question on 10-28-09 with no response... I am in process of Divorce...want to buy out wife's half .... It has been suggested by a mortgage company that I have the divorce finalized with an Owelty lien in the wife's name...Does anyone have any experience / knowledge of an Owelty lien... So many of these sites seem to be "Social networks"...Just looking for advice from someone that's been there done that...Thanks in Advance...Clint

mistoffolees · Nov 17, 2009

Clint J. Rushto said:
What is the name of your state (only U.S. law)? Texas is the state... I asked this question on 10-28-09 with no response... I am in process of Divorce...want to buy out wife's half .... It has been suggested by a mortgage company that I have the divorce finalized with an Owelty lien in the wife's name...Does anyone have any experience / knowledge of an Owelty lien... So many of these sites seem to be "Social networks"...Just looking for advice from someone that's been there done that...Thanks in Advance...Clint

If your wife's attorney is smart, she'll insist on receiving her half of the equity and having you refinance in your own name at the time of the divorce. At that time, she would provide a quit claim deed.

It can be done in other ways, but I strongly discourage it - because there's a huge risk that one or both parties will be unhappy and additional legal expenses will be incurred.

Owelty Lien "AGAIN"

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Clint J. Rushto

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mistoffolees

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