Question: I am a married woman who is getting a divorce and buying a
house. I am concerned about the sales contract in that my spouse's name is
required to be on it and he has to sign. They have the contract written as a
sale to both of us. The financing contract will only be in my name. What is the
best way or the correct way for this contract to be filled out? I'm worried
that he won't sign if it states that he is also buying the property. What is
the best way to also have him sign a waiver to the title at closing?
Answer: If your husband's name is on the title but not on the
mortgage, you have debt and he has equity. That sounds like a really good
arrangement for your husband.
The purchase of a home during the divorce process should not be
undertaken without advice in advance from your attorney. State rules vary, a
house is a significant asset and you could hurt your bargaining position in the
divorce process without proper counsel.
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