If I sell my home with my ex-husband’s name still on the loan, will he have to sign the closing papers?
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If I sell my home with my ex-husband’s name still on the loan, will he have to sign the closing papers?
I want to sell my home that was awarded to me through my divorce settlement. I have a Special Warranty Deed signed by my ex-husband. However, the house loan is still in both of our names.
Asked on April 22, 2011 under Real Estate Law, Texas
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
As you have discovered, the deed and loan are two separate documents. One is security for the other. Here is your dilemma: by your ex spouse signing over a warranty deed, it actually may have accelerated the loan due date. Now, since the loan is still in the both of your names, so your lender will either need to allow you to refinance solely in your name (which shouldn't require him to sign off if he is no longer on the title) or be present at the closing to sign off his portion of the loan at the settlement if you choose to simply sell prior to refinancing. Some lenders do require the other borrower to be there because usually the other borrower is on the title and like I said what complicates it herein is the act your ex committed may have actually accelerated the loan.
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