My wife and I are currently separated and will be getting a divorce soon. We only have one issue to work out and that is the house we own. I don't want the house and she does. The only problem is that the house is titled in both of our names, but ...

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My wife and I are currently separated and will be getting a divorce soon. We only have one issue to work out and that is the house we own. I don't want the house and she does. The only problem is that the house is titled in both of our names, but the loan is under my name only. I don't want to be tied to this house for the next 30 years, so what can I do?

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To have your name removed

To have your name removed from the deed for the home’s mortgage, your wife will need to apply for a loan refinancing with the lender. Depending on your wife’s credit, income and the amount you owe on the loan will determine whether this will be an easy or difficult task. Once your wife is approved for the loan, you can remove your name from the title. To remove your name from the home’s title, consider drafting a quitclaim deed. A quitclaim deed transfers all ownership that you have in the home to your wife, without making any warranties regarding the property and its condition. However, you should discuss your case with a real estate attorney or your lender to determine the appropriate steps to take in your situation. Visit http://www.douglas-county.com/district_court/dc_gettingdivorced.aspx for more information.

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To have your name removed

To have your name removed from the deed for the home’s mortgage, your wife will need to apply for a loan refinancing with the lender. Depending on your wife’s credit, income and the amount you owe on the loan will determine whether this will be an easy or difficult task. Once your wife is approved for the loan, you can remove your name from the title. To remove your name from the home’s title, consider drafting a quitclaim deed. A quitclaim deed transfers all ownership that you have in the home to your wife, without making any warranties regarding the property and its condition. However, you should discuss your case with a real estate attorney or your lender to determine the appropriate steps to take in your situation. Visit http://www.douglas-county.com/district_court/dc_gettingdivorced.aspx for more information.