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What should have been done is refuse to sign the quitclaim deed until the ex-husband refinanced the property into his name alone. If he couldn't afford to do that, she should have probably insisted, even by court order that he sell the property.
Looking to blame the attorney? Good luck. What he did is completely legal, although incomplete. It's likely she only followed some of his advice, not all.
In any event, this issue is much too complicated for an internet forum. The advice needs to be specific to the person, what has happened so far, what type of bankruptcy, timelines, etc.
What should have been done is refuse to sign the quitclaim deed until the ex-husband refinanced the property into his name alone. If he couldn't afford to do that, she should have probably insisted, even by court order that he sell the property.
Looking to blame the attorney? Good luck. What he did is completely legal, although incomplete. It's likely she only followed some of his advice, not all.
In any event, this issue is much too complicated for an internet forum. The advice needs to be specific to the person, what has happened so far, what type of bankruptcy, timelines, etc.
This. It is very common to quit claim a deed in a divorce, but unless the attorney was really incompetent,
the rest of the email or letter that you are not being told is exactly what is above, refinance, sell, whatever has to happen to get the other parties name off the mortgage.
We change deeds all the time from the individual name to put the house into their trust, and it only affects the deed, not the mortgage.
The spouse not living in the house is now hostage to the spouse living in the house. Could the earlier Attorney be approached for this oversight.
No. This happens much more often than you think. Many divorce attorneys do not have expertise dividing up jointly held property secured by a mortgage.
Quote:
The bank is aware of goings on and one employee who knew he was speaking strictly off the record suggested she pay the debt.
That's most likely an enormous sum; one partner is rarely able to buy out the other's share in a home. The poster who said that the couple should have sold the home as part of the divorce decree was correct. The other option is to have it written into the divorce decree that one partner may stay in the home until X date, at which point the home is sold.
I suspect that often in the past it was assumed that any foreclosure would result in money returned, so it was to the advantage of the other party to be on that as the foreclosure would result in money to them. Lately that hasnt always been true.
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