Legal Question in Family Law in Arizona
My friend is getting divorced from her husband and they purchased a house together and received the tax credit for 2008. She would like to know what are the rules and are there any penalties for selling the house or just signing it over to him because she does not want the house and doesn't want to be financially responsible for it.
2 Answers from Attorneys
It is very common in a divorce for one spouse to waive their interest in the marital residence so long as the other spouse agrees to be solely responsible for all liabilities. This also should of course only occur as part of an entire, fair agreement on all topics.
We can certainly help her consider and then pursue her options.
One of our attorneys can explain the issues and procedures better in person. As you can imagine, there is too much to cover via email. We offer free 1/2 hour consultations, in which we can discuss your matter in detail.
Please call us directly to discuss the specifics of your matter, or contact my assistant Gloria or my paralegal Jennifer to schedule your free 1/2 hour consultation
/s/ Rich J. Peters
RJ PETERS & ASSOC., P.C.
1422 North 2nd Street, Suite 100
Phoenix, Arizona 85004
602-254-7251
facsimile 602-254-1229
see our website at www.familylawaz.com
I understand this can seem overwhelming and you sound like you're ready for the divorce to be over and done with.
You should consult with a Family Law attorney to be sure all the issues for a fair distribution of assets and debts are addressed. If there is a mortgage, with both your names on it, he would need to refinance to remove your name from the mortgage before you signed the property over to him. Otherwise the mortgage company could still seek re-payment of their loan from you. As for the 2008 tax credit, the re-finance paperwork and all other documents would need to be reviewed in order to determine what your options are.
I don't practice in Maricopa County, so I would not be able to represent you in court.
Good Luck,