she owns the house...i own the mortgage

[jajones900]

What is the name of your state (only U.S. law)? north carolina
so i did something stupid and signed over the deed to my house to my now ex wife. the mortgage remained in my name. she has now abandoned the property and im wondering what my legal rights are to getting the house back? i just want to sell it and get rid of the mortgage.

 

[FlyingRon]

You don't own it. You can't sell it without her signing off.

 

[mistoffolees]

What is the name of your state (only U.S. law)? north carolina
so i did something stupid and signed over the deed to my house to my now ex wife. the mortgage remained in my name. she has now abandoned the property and im wondering what my legal rights are to getting the house back? i just want to sell it and get rid of the mortgage.

Tell us what the divorce decree says about the home and about the mortgage. Then see if there's anything in the order that makes her responsible for paying the mortgage. There may also be a section saying that each of you is responsible to make sure that the other is not harmed by your financial transactions.

The starting point will always be the court order. After that, we can get into details about what your options might be. One way or the other, you're going to end up back in court, though.

 

[mistoffolees]

You don't own it. You can't sell it without her signing off.

We don't know that. There may be something in the divorce decree that would give him that right. Not likely, but possible.

 

[nextwife]

For clarification: You do NOT "own" the mortgage. The party to whom you make payments owns the mortgage (or collects the mortgage payments as servicer for whomever owns the mortgage.

You certainly can and should pursue getting the property deeded to you so you may deal with it. I truly wish family law attorneys would STOP allowing their clients to deed off interests in properties for which they are still obligated to pay (and family law courts should stop encouraging such orders), and would caution against doing so in the very strongest terms. It is just such a fiscally BAD practice!

 

[LdiJ]

For clarification: You do NOT "own" the mortgage. The party to whom you make payments owns the mortgage (or collects the mortgage payments as servicer for whomever owns the mortgage.

You certainly can and should pursue getting the property deeded to you so you may deal with it. I truly wish family law attorneys would STOP allowing their clients to deed off interests in properties for which they are still obligated to pay (and family law courts should stop encouraging such orders), and would caution against doing so in the very strongest terms. It is just such a fiscally BAD practice!

I agree that deeding it off before its refinanced is a bad practice. If you know that your ex is good with money and can realistically make the mortgage payment it can actually be a wise to agree however, to a period of time where the ex can remain in the home without refinancing, particularly in today's market.. However, there does need to be a time limit on how long it goes on before a refinance has to happen, and no quit claim should ever be given until/unless it happens at the closing table for a refinance.

 

[nextwife]

I agree that deeding it off before its refinanced is a bad practice. If you know that your ex is good with money and can realistically make the mortgage payment it can actually be a wise to agree however, to a period of time where the ex can remain in the home without refinancing, particularly in today's market.. However, there does need to be a time limit on how long it goes on before a refinance has to happen, and no quit claim should ever be given until/unless it happens at the closing table for a refinance.

Exactly, one should never allow their client to sign off their interest UNTIL the sale or refi or payoff occurs, and the debt obligation for the party who is conveying out is eliminated. It certainly can be exchanged at the closing table, like any other financed conveyance.