Q: Do I have rights to equity in the house when it is sold ?
Ex wife owned house before we married. I moved in we got married. she lost her job and house was going to go to foreclosure. I put my name on the mortgage an we refinanced. apparently my name was not put on the deed. We got divorced the separation agreement says I get 50% of equity when the house is sold. The problem is the separation agreement says we both own the house but if my name is not on the deed I dont own the house. Since the separation agreement incorrectly lists me as a owner is it still valid ? Does the separation agreement override the fact that I am not a owner and am just on the mortgage ? The house is located in Montgomery Co. Maryland and we both live in Maryland. This was a uncontested divorce and does have a equitable distribution release in it.
A: It is impossible to evaluate this without re viewing the Settlement Agreement and the Deed, but the Settlement Agreement probably trumps the Deed if the Agreement is not ambiguous. This could be an example of saving nickels at the cost of dollars by doing a DYI divorce. One thing that likely helps you is that the title on a marital home is merely a piece of evidence as to title. Just three generations ago, it was quite common for a husband to take title in his own name alone or as "John Q. Public, ex ux.", literally "and other." If it is treated as marital property, as in your Separation Agreement, it is marital property. I strongly suggest that you consult with real estate counsel.
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