Legal Question in Family Law in Virginia
Selling of the Marital Property
My soon to b ex tried to offer me a deal. He said he will move out of the house in a month, let me have it with the obligation to remove his name off the mortgage in 2yrs. If I am unable to do just that, he will move back in the house, wants me to move out, and he will have 2 yrs to remove my name from mortgage. We are currently in the negative as far a selling the house, I want to sell, he doesn't. Can he use this type of agreement in court by telling judge that I refuse to go with his plan bcuz I want to sell? Does he have the right to do this? What are the chances of the judge ordering us to sell the house in this economy?
1 Answer from Attorneys
Re: Selling of the Marital Property
The usual way that a mortgagee's name is removed from a mortgage loan owed by two or more individuals is through a refinance by the co-owner(s) of the subject property, but if the property is "upside down" so to speak, in what is owed on it, such a refinance is unlikely to be possible, and, therefore, the arrangement which you've described is unlikely to be feasible nor have any chance of coming to fruition, no matter which of you attempts it and it would be unlikely to be accorded any credibility by a court reviewing the matter.
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