Refinancing The Home BEFORE The Divorce?!

by Robin Roshkind, Esquire, West Palm Beach, Florida

One of my clients, the Wife, had the most daring request posed to her by her “amicable” Husband late one afternoon recently.  The couple is getting divorced and are participating in settlement negotiations with their respective CPAs and divorce attorneys.  Both the Husband’s name and Wife’s name are on the deed and the mortgage to the marital home which is here in Florida.  Another vacation home is up north in New York’s Hamptons communities. 

In the settlement negotiations, the Husband was to keep the marital home here in Florida in his name only by Wife quit claim deeding the home to him, and the Wife was to keep the vacation home in the Hamptons by him quit claim deeding that home to her.  He actually asked his wife to refinance the marital home WITH HIM, so that he could get the cash out, live there, have the home solely in his name, and pay her over time her equitable distribution from the marital assets!  In other words, her own money!  That takes balls.

Yes, I stopped her!  If she would have done that in the interest of being “amicable”, she would have further encumbered herself (read DEBT) in a property she no longer would have a legal interest in, and he would have the cash!  Then he would pay out over time, her own money. That is why divorcing couples need  divorce lawyers.  For more information call one of the divorce lawyers at ROBIN ROSHKIND, PA at 561 835 9091 or click on the Firm’s web site at http://www.familylawwpb.com.

 

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