Legal Question in Real Estate Law in Iowa
mortgage ownership at time of sale
My sister and her husband divorced 2 years ago and she was left the house in the divorce decree, his name has been removed from the deed but his name is still on the mortage. Would that be a problem is she decides to sell the house, the problem would be finding him to get him to sign anything. We re hoping it would just be taken care of when the mortgage was paid off at closing. Is that the case?
Asked on 6/25/09, 6:12 pm
1 Answer from Attorneys
Thomas Moens
Moens Law Offices, Chartered
Re: mortgage ownership at time of sale
If they house has been properly titled in your sister, nothing should be needed from him. The only wrinkle that may come up is if the mortgage company sends an escrow balance back. The check will more than likely be in both of their names.
Answered on 7/03/09, 12:12 pm