Legal Question in Real Estate Law in Iowa

In my divorce decree it stated that my ex get our property and he be liable for any debt against the property and was to hold me harmless against the debt. Now he refused to refiance to get my name off the loan and the bank also refused to remove my name from the loan. I never signed a quit claim deed over to him. Now he has moved out of the property and is behind on the mortage 3 months and the bank is talking forclosure. I don't want to be sued but I also do not want the property either, what are my options? I heard about a deed in leiu of forclosure- would this be best for me? More is owed on the mortage that what the home is worth.


Asked on 1/09/10, 9:29 am

1 Answer from Attorneys
Robert Luedeman solo practitioner

If you can get the bank to go along with a deed in lieu of foreclosure or a short sale that'd be nice, however he would have to agree to it as part owner.. You don't have a whole lot of wiggle room here and in retrospect you should have quitclaimed it right there on the spot.

You can go back to the court and ask them to order him to pay up, but don't expect miracles.

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Answered on 1/14/10, 1:29 pm


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