Legal Question in Family Law in Tennessee
Removing my name from a bank note.
After 20 years of marriage I was divorced in July. My husband signed the house and property to me. It is now in my nam,e only. He assumed the payments per the divorce agreement. My name is still on the bank note for this home, which in essence ties up my property if I wanted to sell it or borrow money against it. Can I have my name removed from this bank note? I spoke with the banker and he was very rude and just said he wasn't taking my name off the note. What are my options?
2 Answers from Attorneys
Re: Removing my name from a bank note.
Did the Final Decree require your husband to refiance the debt in his name only? If not, there is not much you can do unless the bank will agree to remove your name. The bank would have no reason to do so because if your husband defaults the bank can collect from you on the mortgage.
Re: Removing my name from a bank note.
If you wanted your name removed from the bank note, you should have argued for that at arm's length during the property dissolution phase of your divorce. Someone's name needs to go on the bank note. I don't see any reason why your husband would agree to put his name solely on the bank note in return for nothing. You sound like you got a very fair deal from your divorce if you get to keep the house but your husband has to make payments on it.
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