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#774017 - 10/19/17 02:45 AM Spouse Not on Loan but is on Deed
jeepnsam Offline
recently joined

Registered: 10/19/17
Posts: 1
Hello Forum,

I've owned my property since 2007. (500k)
I married in 2010.
Now the catch. In 2015, we refinanced to get a lower rate (350k)
Due to her credit issues BEFORE the marriage, the refi
loan is in my name only. However, her name is on
the deed to the home.

If I file for divorce in 2018, and we sell the home
BEFORE the divorce is final, does she have any legal claim
to the proceeds of the home sell?

IE: since she's only been on the deed of the home for the duration of the wifi loan (2 years) and I've owned the home BEFORE the marriage for many years.

* Her name not on the loan
* Her name is on the deed to the home

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#774019 - 10/20/17 04:07 AM Re: Spouse Not on Loan but is on Deed [Re: jeepnsam]
matilda Offline
Pooh-Bah

Registered: 11/11/04
Posts: 2137
I believe that she is entitled to the increase in value and equity since the marriage because marital funds were used to pay the mortgage. The downpayment and equity earned prior to the marriage would be yours. You need to find documentation to show what the home was worth at the time of your marriage.

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#774026 - 10/30/17 03:35 AM Re: Spouse Not on Loan but is on Deed [Re: jeepnsam]
MinnesotaMom Online   content

old hand

Registered: 01/05/11
Posts: 787
In some states, if you add your spouse to the deed, you just gave them 1/2 the value upon divorce. The OP needs to see an attorney in their local state.

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#774049 - 11/06/17 09:24 PM Re: Spouse Not on Loan but is on Deed [Re: jeepnsam]
TJMH Offline

enthusiast

Registered: 07/17/15
Posts: 344
Probably depends somewhat on what state and how they treat property division. But in general if you've been making mortgage payments since 2010 with marital funds (and your individual salary counts as "marital funds") then she would probably be entitled to any increase in equity that occurred during the marriage. Doesn't matter whether her name is on the deed or the mortgage. So whatever the equity in the home was before you got married is your separate property. Any increase in equity since then is community property, half yours and half hers. The mortgage payments and any renovation costs, etc. during the marriage are considered to have been made by you both equally.

It also doesn't matter whether the house is sold during or after the divorce process. But if she's now on the deed and you mean to keep the home yourself, you'll need to pay her her share of the equity and get her to sign a quitclaim deed.

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