Legal Question in Real Estate Law in New York

My wife and I divorced four years ago (the date of our certified judgement of divorce for New York State is 2007). However her name is still on the mortgage, title and deed to our Queens co-op where my son and I still reside, although I have been paying mortgage and maintenance on my own since she moved out in June, 2005.
I have been told that the only way to get her name removed from these documents is to renegotiate a new mortgage (at least that is position of the the co-op's management company and the bank--Citimortgage--that holds the mortgage). My ex-wife has said both verbally and in writing that she would be willing to sign off on a quit claim document, but the bank insists that this is not possible.
I don't want to sign up for another 10 to 15 years of debt, even at current favorable rates, if I can avoid it. I have less that five years to go on the present mortgage and can have the remaining balance paid off by the time I'm ready to retire. Is a new mortgage the only option or do I have alternatives?
Thank you,
David F. Winn

Asked on 2/11/11, 5:57 am

Michael Markowitz Michael A. Markowitz, PC

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To properly answer this question I would have to look at the Settlement Agreement signed by you and your wife in 2007.

Mike.

Answered on 2/11/11, 6:09 am

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