Blueslady - if your husband was able to complete a purchase without your knowledge or consent (yes, an interspousal grant deed should have been executed and recorded with his purchase), then maybe he's managed to execute a divorce agreement without your knowledge? Yes, a little tongue in cheek action, but it might be worth looking into......
As a result of this I STRONGLY advise that you take back control of your life and financial affairs and complete your divorce! If he gets behind on the payments the lender could easily do a marital search and possibly come after you (he did lie on his mortgage app about his marital status afterall).....same thing with any credit card debts or auto loans.......by not consumating your divorce, you're dealing with a potential financial time bomb here!
And as leverage for getting him to sign divorce docs, you can simply let him know that you're aware of your 50% interest in the home he just purchased!
I had a customer sign one on a property to get a loan, they sold the house a while later and it made no difference whatsoever. He got half the house when it sold.
You would need to talk to an attorney now is not the time to try to save money. I am thinking that if you signed that in order to get the loan on the house, the house is probably half yours. We do it all the time, I have never seen it make a difference. I am not an attorney so I could not say for sure.
Good luck on that... more
Okay I'll be the contrary one....sorry to say, I've heard more inaccurate advice from attorneys than I care to. They charge money for an often invalid response to your question.
Married filing separately does not address the laws in California that you need addressed so I'm not sure that a CPA can provide much guidance there except to say you've file in a manner that is legal. Married, filing separately, still requires, under federal law, that both parties list the full income for the marriage and the full expenses. Call Ed Cook at (916) 705-4958. He addressed this same question with me, as my CPA. It is often assumed that you can keep all assets separate that way but it's not true.
Still the two bigger questions are the way California views inherited property, and how CA views ownership in property acquired sometime during the marriage. I'd first ask an escrow officer. They deal with this issue every day. If you are still married, I assume you'll need the married partner to sign off on anything that you do, as a safeguard, whether they legally have any rights to the inherited property or not. THEN I'd go confirm with an attorney to see if any considerations were missing in your analysis. I know that you will need to prove that, despite inheriting it, that you used no common funds to maintain the property. If so, he might be able to make a claim that it is now community property, but would he?
The more prepared you are, the better chance that your objective will be attained without courts, etc. California throws lots of roadblocks that are different than federal views. Hopefully, your soon-to-be ex-husband will just cooperate if it's required that he sign off on it and he is presented the facts.
As a realtor, we aren't experts on the answers, but we sure can help you determine the questions and who might best help you. Keep asking.... more
What where you in need of from the sellers agent that your agent could not provide? Just curious how the Sellers Agent (Listing Agent) was able to hold up your transaction. I assume there is a simple answer like "we are doing a Short Sale and needed a letter from SS bank to proceed" but I do not see those notes so thanks in advance for posting more details so we can all have better Real Estate experiences in the future.... more
Don't think anyone addressed an important issue: if the loan is FHA, I don't think they allow you to make up the difference...the appraisal has to be as much or higher than the sales price. The appraisal can be challanged (ask your lender how) but it is tedious & takes more time. Otherwise agreed with the other answers.... more