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Lady Themis
Lady Themis, Lawyer
Category: Family Law
Satisfied Customers: 7751
Experience:  Divorce, child custody, child support, etc.
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In Texas how long of a grace period is given for one spouse

Customer Question

In Texas how long of a grace period is given for one spouse to complete "Divorce Refinance"? Should this process be completed before finalizing divorce? or does that matter? I have not finalized the process because I need to know the correct information. I do not want to get stuck with a mortgage loan on my credit, especially since I plan to purchase my own home within the next year. Please advise. I thank you for your time and consideration.
Submitted: 6 years ago.
Category: Family Law
Expert:  Lady Themis replied 6 years ago.

Thank you for your question.


Usually the time period is stated in the order that requires the refinance. If not, it is presumed that the person must do so within a reasonable amount of time. The court can determine whether the party required to refinance is making a good faith effort to accomplish the refinance. If it is not completed by the time the divorce is finalized, the party who is benefiting from the refinance should make sure it is written into the order that the house be refinanced and when it should be refinanced by, and if the other party is unable to refinance, that the house be sold.



Customer: replied 6 years ago.
Even if I turn in finalized divorce decree I would give him a reasonable amount of time to get the refi completed and if not handled then I would go back to court, if necessary.
Expert:  Lady Themis replied 6 years ago.

The time period should be explicitly stated in the agreement, and an alternate outcome should be stated. That will make the order easier to enforce. If there is no time in which the refi is to be completed, it will be difficult for the court to hold the party in contempt for violating the order.



Lady Themis and 6 other Family Law Specialists are ready to help you
Customer: replied 6 years ago.
Thank you so much for your time and knowledge.
Expert:  Lady Themis replied 6 years ago.
You're very welcome. Best of luck to you.

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