Q: In Florida, can a couple get a divorce and then resolve a property issue.
For example, the husband wants to keep the house and the wife is fine with that but she needs to be taken off the mortgage. If the husband is taking his time on the refinancing, can they go ahead with the divorce? What does the wife need to have to show she has no financial responsibility for the home including mortgage payments, repairs, utilities, etc.? Should she go ahead and sign a Quit Claim Deed without being taken on the mortgage right away?
A:
She cannot be "taken off of the mortgage" without the consent of the mortgagee (i.e.: the bank in or whoever holds the mortgage). Note that the divorce court cannot take her off if the mortgage obligation in any event. And it would be extremely unlikely that the mortgagee would agree to release her from liability on the mortgage note, because, should he default, the mortgagee wants to keep all of its options open (including suing her for a deficiency).
She should make sure he does whatever he needs to do to get the property re-financed.
A:
She cannot be "taken off of the mortgage" without the consent of the mortgagee (i.e.: the bank or whoever holds the mortgage). Note that the divorce court cannot take her off if the mortgage obligation in any event. And it would be extremely unlikely that the mortgagee would agree to release her from liability on the mortgage note, because, should he default, the mortgagee wants to keep all of its options open (including suing her for a deficiency).
She should make sure he does whatever he needs to do to get the property re-financed.
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