Can i refinance home and lease out if going through divorce?
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Can i refinance home and lease out if going through divorce?
I am in texas. My wife is not on deed. I know I cant sell without her approval but can I refinance and lease out?
Asked on October 5, 2016 under Family Law, Texas
Answers:
B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
Whether or not you can refinance will depend on any orders that are in place and your refinance company.
More and more counties have adopted 'standing orders' which prohibit any changes or indebtedness while the divorce is pending or without the approval of the court. If you have standing orders or temporary orders the prohibit the refinance, then you cannot and should not refinance.
If there are no orders which prohibit you from refinancing, then you still have the issue of the refinance company. Some will consider it a 'community debt' and will not let the refinance go through without your spouse's approval.
If you are not sure, then you are best holding off until after your divorce is completed so as to avoid any backlash by your judge.
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