I examine titles for a living (yeah what fun). From what I have seen, it depends on what the divorce decree says. If it says that it transfers title then it does. If it requires one spouse to give a deed to the other spouse than that is what must be done. Divorce is always a mess.
Re: Divorce-Transfer House Ownership - Posted by Philly Dave
Posted by Philly Dave on October 27, 1998 at 08:37:34:
Hello, Constance!
First, I think Rob’s advice is prudent; you’ll kick yourself but hard if you try to sell the property at some later date and discover that your deed doesn’t pass muster with your buyer’s title company. Now is the time to make sure it’s done right, and you can probably have it done by an attorney for around $100.
Second, since both you and your ex-husband are currently on the deed, it’s very likely that you both are named on the mortgage. Simply transferring title to you alone will not release your ex-husband from the mortgage, and may cause problems for you with the mortgagee (i.e., the lender). This could be an instance when a “due-on-sale” clause (as it is commonly referred to) is somewhat of a misnomer. Such clauses often cover ANY transfer of title, whether it truly constitutes a “sale” or not. By transferring title from “you-and-your-ex” (as current owners) to just you, you could run afoul of the due-on-sale clause in the note and mortgage. Unless the mortgagee consents in writing to the transfer, you may have an unwelcome legal entanglement on your hands.
Please, Constance, talk to a real estate attorney about this before proceeding. I hope this info is helpful, and I wish you well!
Either a quit-claim deed or warranty deed. Please be careful to have the deed prepared correctly. Have a title company or some knowledgeable person review it before it gets recorded. Probably the #1 title problem I run across is from unexperienced do-it-yourselfers preparing their own legal documents. I work full-time examining titles and see this all the time. If you are in the South check out our webiste at www.thefund.com