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My questions is if a husband and wife go into an owner

Thank you. My questions...

Thank you. My questions is if a husband and wife go into an owner financing contract with a seller and one day the husband does not want to continue paying for the property and wants to give it back, but the wife wants to keep it, how can that be done without it going into foreclosure if the husband is uncooperative but the wife wants to fulfill the obligation?

Lawyer's Assistant: When we are ready I'll take you to the appropriate web page.

Great

Lawyer's Assistant: Since laws vary from place to place, what state is this in? And has any paperwork been filed?

North Carolina and the original paperwork was recorded in the husband and wife's names. They are married...not getting a divorce, just not agreeing.

Lawyer's Assistant: Has any paperwork been filed?

Yes.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

No, I just want to see what rights the wife has if the husband throws his hands in the air. Thank you.

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Answered in 5 minutes by:
3/6/2018
Legal Eagle
Legal Eagle, Lawyer
Category: Legal
Satisfied Customers: 14,296
Experience: Licensed to practice before state and federal court
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Hello! I am a licensed attorney, admitted to practice in state and federal court. I have a nearly 100% satisfaction rating (click here for more info) so all that means is that you can count on me to help today. Because I want to provide you with the most accurate answer possible, do you mind if I take a moment to review your question?

Please keep in mind that our conversation does not include an attorney-client relationship and this is for general information purposes only.

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Thanks so much for your patience. If a husband and wife buy a property, but one of the parties doesn't want to continue paying, there are a few options. The first option is that the husband can sign over his interest in the property over to the wife through a quit claim deed. The quit claim deed would make the wife the sole owner of the property. The wife and husband should also probably agree that the property will no longer be a part of the marital estate either so if the two get divorced, the wife can maintain her interest in the property.

The other thing that they can do is sell the property of course.

Otherwise, the only other option is going to be foreclosure, unfortunately, if the wife can't keep up with the payments herself. I'm very sorry. What other questions did you have for me regarding this?

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Customer reply replied 5 months ago
That is what I needed to know. Thank you for your swift response.

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