Posted by: mashilo | 2009/11/30

Divorce settlement

I got divorced and we made a settlement that i will transefr the bond to his name. The bank ays they do not makesuch changes based on the agreement. am still a 50% owner of the house even though am not the one paying the bond becase the title fdeeds still says am the co-owner. I have asked them if i could sell the house, they said its fine. Will i able to do that? do i have the powers to do that even though something is written in black and white that am transferring the bond to him/ please let me know because am unable to apply for my own house due to this.

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Our users say:
Posted by: Mina | 2009/12/01

He have to carry the costs of transferring the house not you.

Reply to Mina
Posted by: Mina | 2009/12/01

From our settlement i have to transfer the house into my name. Your ex have to apply for a bond then transfer it into his name. If he does not qualify for a bond then they wont release your name then you' ll have to sell the house.

Reply to Mina
Posted by: G-Dad | 2009/12/01

Normally in a case like this house has to be transferred to his name and the bond need to be changed to his name depending if he can afford the house, if he can not afford the house then he has to sell.

If you already settled that he keep the house then you can not change it now, you have to get the house and bond of your name, if he stop paying you will be accountable.

Speak to an attorney to do the process of removing the propery from your name, the ex should actually transfer the property to his name and carry the cost, you can force him if he refuse but it will cost you again.

Reply to G-Dad
Posted by: CA | 2009/11/30

The bank will need to qualify him for the loan. See a financial consultant. Until this is done u are 50% holder.

Reply to CA
Posted by: Rob | 2009/11/30

Sell the house to him, at current settlement cost, that way no one losses or gain.

Reply to Rob

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