Legal Question in Real Estate Law in Florida
My wife has a divorce agreement with ex . She kept the house but because both names are on the property she agreed to refinance house by the year 2022 strictly for the sake of taking his name off the deed . By the word REFINANCE does it mean that she has to repurchase/ refinance that existing property or does it mean simply that She has to sell the property before 2022 ?
1 Answer from Attorneys
Without seeing the actual agreement it is really impossible to answer with any certainty. That said, refinance usually means that she must get either the current lender or a new one to accept her as the sole owner of the property and the only one who is financially responsible for paying the mortgage. Refinance does not mean repurchase or selling the property to some other party.
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