If I got divorced 5 years ago and after my ex-husband signed special warranty deed which was required for me to get my loan modification but I sell the house, is he entitled to any of the profit?
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If I got divorced 5 years ago and after my ex-husband signed special warranty deed which was required for me to get my loan modification but I sell the house, is he entitled to any of the profit?
Asked on November 9, 2015 under Family Law, Texas
Answers:
B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
As long as the house was awarded to you, then you are entitled to the full amount of the profit. A speciall warranty deed is basically a way of telling the world that he no longer has an interest in the property. If your final decree included a provision that said "if wife ever sales, then husband get xx%", then he would be entitled to a portion of the proceeds... but as a general rule, most courts will simply award the estate to one spouse. If the other spouse fails to refinance, then they will give the non-receiving spouse the option to force a sale of the house. The reason for this remedy is that the mortgage hurts the non-receiving spouse's debt to income ration, and thereby their credit ability to obtain a home of their own in the future.
If you're not sure what your decree means, then take it to a family law attorney and let them review it for you so that you will know exactly where you stand before you sell the home.
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