Legal Question in Family Law in Texas
need info
My husband and I are currently starting a divorce.
The house we've been in for two years was bought in his name because my credit is not bad. I would like for my daughter and I to stay in the house, I can afford the payments but he wants the house out of his name. Will I have to obtain a loan in my name to keep the house? Or can I just be allowed to make payments on the house? How does that work?
1 Answer from Attorneys
Re: need info
I find that most everything is negotiable in a divorce. Therefore, my reply is generic in nature.
If he insists on his name being removed, you will need to refinance the house and give him 50% (or whatever your negotiate)of his portion of the equity.
He has the option to go to court and ask the Judge to order that a person be appointed (known as a receiver) to sell the house. Please be advised that you then have no say-on on the sales price. I have noticed that the property tends to less less than market. i try to avoid this since the parties never seem happy at the $$ they get out of the sale.
Best of luck!
If you live in the Houston area, please give me a call at 713-847-6000.
Fran Brochstein
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