My ex hsuband is ordered by teh ourt to buy me out for 75,000 he is taking a home equity loan and the bank wants my name removed from teh titel to release the monies I do not want to take my name off until Ihave my money in my hand Please advise
This is a very serious transaction you should consult with an attorney for sound advice. You may want to consult a realestate attorney as well as your matrimonial lawyer. Good Luck.
Georgia Westcott
Broker/Owner
The Westcott Group Real Estate Company
17 Deer Park Ave
Babylon NY 11702
631-661-8888
you should be able to sign this at closing where you will pick up your check. as well if there is a 3 day right of receission, maybe your attorney could draw up a form in case your husband changes his mind, then the deed change will not be valid. good luck Colleen
I am assuming that you are not using an attorney, which I may advise that you do. At the closing, title can be transferred and all appropriate documents can be transferred and endorsed.
As an addendum, if you are being bought out, the house should go through a regular sale with your Real Estate Attorney and a title company.
As the deal is closed, if there is money owed on the house, the payment from your ex will pay off the balance and title will transfer with the sale.
Verify with your attorney, but the only thing you should be signing is a sales contract created by YOUR attorney.
Colleen,
Your concern is a valid concern. You are correct in questioning the timing of this process.
This is indeed an issue that needs to be brought to the attention of your attorney.
Good luck,
The "Eckler Team"
Colleen
This sounds like an attorney matter. In California the is a process called escrow in which monies are held in a trust account pending the appropriate action taken by the parties involved.
You are receiving the money, your ex receives a deed to the property without your name.
There are third parties, in your case attorneys I believe, that take the role of intermediaries.
Ask questions until you are comfortable.
Call your attorney to advise you before you sign anything. Is your name on the mortgage also? Good Luck.........
Call your attorney immediately. Don't sign anything until your attorney approves.
No kidding, call your attorney now. No fooling around and no delay this is serious stuff.
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