Legal Question in Family Law in Kentucky

I recently divorced - without a lawyer, probably my first mistake. Ha ha. Last week went to our bank, where my ex and I have two house loans- on two seperate properties and an equity line of credit and a good history, and asked to remove my name from one deed to the property my ex is going to keep and to remove his from the house I am keeping. We were told we would have to refinance both loans. Is this normal? Can I do anything about this? Having to refinance will cost us both a lot but I am concerned about my credit being linked to his. Is there a way to have him on the deed but as a co-signer? Is that any better? Help.


Asked on 2/17/10, 12:43 pm

1 Answer from Attorneys
Gregory Napier Troutman & Napier, PLLC

The deed is a simple matter, but it is not what you are asking about. Each of your would complete, sign and file a "quitclaim deed" on the property that the other person is keeping. However, the big problem are the loans. Unless the lendor is just nice (which they are not) and removes you from being obligated on the loan for your ex's property, then the property HAS to be refinanced. Otherwise, you remain wedded financially to each other for as long as the loans shall last.

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Answered on 2/23/10, 9:25 am


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