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LawTalk
LawTalk, Attorney
Category: Real Estate Law
Satisfied Customers: 35405
Experience:  I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.
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Can I keep the house? Going through divorce proceedings.

Customer Question

Can I keep the house? Going through divorce proceedings. Wife is the initiator and she moved out then retained a lawyer. Her layer asked that the house be sold ASAP. I don't want to move out and would like to keep the house and remove her from the loan
papers. I was the one paying the mortgage during entire 3.3 years of marriage. The mortgage is on our both names. Would I have to get an appraisal? What is the fair market value of the house - appraised value or comps?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  LawTalk replied 1 year ago.

Good afternoon,

I'm Doug, and I'm very sorry to hear of your situation. My goal is to provide you with excellent service today.

The court will not force you to sell your home if you can refinance it in your name alone and pay your wife her share of any equity in the property. Fair market is generally best determined through a formal appraisal which does a lot more than just looking at comps---but includes comps in the appraisal.

Yes, you will have to get the property appraised---but that is something that is done in a refinance anyway, and you may be able to use the lender's appraisal. You might also find that your spouse will hire an independent appraiser as well. So long as you are able to refinance, the court will not force you to sell the property.

You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.

Please remember to rate my service to you so that I can be compensated for helping you.

I wish you and yours the best in 2015,

Doug

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