My wife and I are in the process of building a new home. Unfortunately we are getting a divorce, and she wants to finish and live in the house. The loan is both our names. Can I transfer the property and the loan to her and her mother?
You may be able to possibly go through with the transfer depending on your state’s family law code. If you live in a community property state, the property will be divided equally between the both of you. When this occurs, most couples either sell the property and split the proceeds 50/50, or buy one another out. Either way, you should speak with an attorney before you consent to transferring any of your property rights.