[dr04940]

my wife and I are getting divorced,the house is in both our names, I want my name off the deed and motgage, both american citizens, house value decreased, still not paid off. She wants to stay in the house, and I need to find another house with mortgage. I cannot pay two mortgages. That is why I need to remove my name from the deed, title of this house. Also remove my name for the house mortgage. How to do all of the above? And should I ask her to pay me my share, since we both lived and paid the monthly mortgage from our joint bank account since 1998?

[Fr_Chuck]

To get your name off the deed, you have to get it off the mortgage first. The other party will have to get a new loan in just their name to pay off the original loan. Then a new deed is made up and recorded in just their name.

Unless that is done, if for some reason she does not pay, they can come after you, and if she pays late, it can effect your credit also .

If you get any money from her is totally up to the divorce court, how much is it worth over the current mortgage on it. You can ask for 1/2 of that value. But it all depends on the deal the two of you can come up with