How to Remove a Name From a Joint Tenants' Divorce
Couples often jointly purchase a home to live in during their marriage. When two people co-own a piece of property, a joint tenancy exists. When the couple separates or divorces, the house is either sold and the proceeds are split between them, or more commonly, one spouse keeps the house. When one spouse retains the house in a divorce, you must remove the other spouse's name from the deed and the mortgage, if any.
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Instructions
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Refinance your mortgage so that the new loan is only in your name. You can elect to refinance with your original lender or you can refinance with a new bank or other financial institution. Once you refinance the home, only you will be responsible for the debt and your former spouse released from all liability.
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Provide a copy of the divorce decree to your original lender and request a name delete assumption. Although relatively unknow, some lenders off this method, which will remove your ex-spouse's name. You must, however, qualify to take on the payments on your own. If not, you either have to refinance or sell the home and split the proceeds.
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Complete a quitclaim deed. When your former spouse signs the quitclaim deed, he releases all interests or rights he had in the home. Like a delete assumption, you are subject to the same qualification criteria of the mortgage.
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Tips & Warnings
Like many divorce proceedings, an attorney can help you file the appropriate documents with the court.
