Legal Question in Family Law in Washington
Not split the property
My husband and I are getting a divorce, but we don't want to split the condo we bought together during our marriage. We will work together to sell the condo or refinance it under his name. Is this legal to do so even after we're divorced? What do we need to know to make sure this process going smoothly? Thanks
1 Answer from Attorneys
Re: Not split the property
If you cannot refinance the condo into your husband's name prior to the Decree of Dissolution being entered (thus ending the marriage), then to protect you, I'd say to make sure the Decree of Dissolution reflects that he must accomplish this task and that you will do everything reasonably necessary to help him, such as signing a quit claim deed. For your protection, you should also allow a period of time that you can live with to allow him to get this task done. For example, "Husband must secure financing within 120 days of the date of entry of this Decree, otherwise, the condominium must be listed for sale with an agreed upon real estate agent."
This way, if he cannot secure financing to remove your name, at least you can force a sale to get your name off it and get your share of value out of it.
To make sure it goes as smoothly as possible, there is really a lot more to it than what I am saying here. A lot depends on when you either refinance or sell, and whether it happens before or after the Decree of Dissolution is entered.
You should consult both a tax expert to make sure whatever decision you make is most beneficial to you, and you should consult with an attorney to make sure that you have court orders that protect your legal interest in the property, and to make sure that your husband cannot just go on indefinitely until he is able to sell or refinance, all the while keeping your name tied to the property.