Hook

Most divorce attorneys make a huge legal error. Ooh, I'm calling you boys and girls out. Uh, because here's the thing. Husband, wife, get divorced. There's a $260,000 mortgage. Husband doesn't get to keep the house. Wife's going to get the house because the kids are living in the house. And divorce attorney say, well, just part of the settlement is you're going to quitclaim your half of ownership to her. And so he fills out a one-page quitclaim as part of the divorce decree. Boom. There we go. But guess what? Husband still has a $260,000 mortgage. Five years later, he gets remarried and wants to have a life and buy a house. Can't do it. Still got $260,000 mortgage in his ex-wife's name. Don't own the property, but still got the mortgage. Dumb. You're getting a divorce and doing a quitclaim deed, force a refinance or force the sale of the house. One of the two. Either the wife, the ex, soon to be ex or whoever is going to get the house refinances and gets the other person's name off the mortgage, or we sell the house and get the name off the mortgage. Because you're gonna get stuck. And divorce attorneys do this all the time because it's easy. It's easy, but it's wrong.
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