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Updated about 7 hours ago,

User Stats

65
Posts
29
Votes
Lauren Ruppert
  • Rental Property Investor
29
Votes |
65
Posts

How do you get a spouse's name off of the property if divorcing?

Lauren Ruppert
  • Rental Property Investor
Posted

Hi all!

A multi-unit property was purchased for $140k.  The estimated value  now (roughly) is $200K.  Couple is divorcing, husband wants to keep the property; wants ex-wife's name off of property/loan. 

What is the best course of action?  He can't 'buy her out' as he does not have that much cash liquid. The balanced owed on the property is about 97K.  She put a portion of the down payment (15K)...and of course there is a little equity... Lastly, the property is in PA. 

All suggestions will be greatly appreciated! 

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