Legal Question in Real Estate Law in Texas
Refinancing Assumable Loans After Equity Buyouts
Recently I bought out my ex-husband's portion of the equity in our home. He signed the Warranty Deed Transfer at a title company. The Warranty Deed has been filed at the court house. My ex-husband is now calling me demanding that I refinance this house or get his name released from the VA loan. It is my understanding that unless I default on the payments, this house is mine.
Is there any way his name can be released without me refinancing?
Does he have any legal recourse against me? I don't wish to refinance at this time.
What exactly are the laws regarding assumable loans?
Thanks.
1 Answer from Attorneys
Divorce -- House
Unless there is some provision in the loan documents requiring the VA to release your ex-husband, which is unlikely, they don't have to. And unless you have during the course of your divorce or youe purchase of his equity agreed to get him off the loan, you don't have to.Contact the VA, explain your situation, and ask if there is not some procedure to try and get your ex released.
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