Answers general questions about residential real estate in Florida. More specific answers for the southwest area of Florida - Naples, Bonita Springs, and Estero Florida - Collier and Lee Counties. Will not answer any questions about commercial real estate or business brokerage.
Experience
Experience in the area: I have held a Florida real estate license since 1995 and Florida mortgage broker license since 1996. I have specializes in the residential real estate market as a full-time REALTOR since 1996. Currently a member of the Legal Resources Committee of the Naples Area Board of Realtors.
Organizations Naples Area Board of Realtors, Lake Placid Board of Realtors, Florida Association of Realtors, National Association of Realtors
Publications Have been interviewed by the local NBC, ABC, and FOX affiliates about correcting erroneous information on credit reports, local real estate market conditions, and foreclosures. Glenn authors Naples Real Estate Blog
Education/Credentials Bachelor of Science Degree in Accounting from Bentley College, Waltham, Mass.
Post graduate courses at Nova University.
Awards and Honors 2007 Best in Client Satisfaction - Real Estate Agent by Gulfshore Magazine.
2006 Best in Client Satisfaction - Real Estate Agent by Gulfshore Magazine.
Expert: Glenn Ginsburg Date: 5/24/2008 Subject: TITLE/DEED INFO
Question QUESTION: MY DIVORCE WILL BE FINALIZED ON 7-11-08. I AM PURCHASING A CONDO BY MYSELF. THE MORTGAGE IS IN MY NAME ONLY. THIS WILL BE MY NEW PRIMARY RESIDENCE. I CLOSE ON PROPERTY 5-30-08. THE TITLE COMPANY STATES THAT AT THIS TIME I AM STILL MARRIED THEREFORE MY HUSBAND HAS TO BE ON THE DEED AND WHEN MY DIVORCE IS FINALIZED I CAN FILL OUT A QUIT CLAIM DEED AND HAVE HIM REMOVED. MY HUSBAND HAS AGREED TO DO THIS BUT I AM NOT SURE WHY IT NEEDS TO BE DONE. I THINK IT IS RELATED TO HOMESTEAD. IT JUST SEEMS LIKE ANOTHER HASSLE. AT WHAT POINT CAN I FILE THE QUIT CLAIM DEED IF NEED BE. THANK YOU SO MUCH FOR TAKING THE TIME TO LISTEN.
ANSWER: Hi Laura,
The handling of real estate during a divorce has major pitfalls, which should be addressed and discussed with your attorney. The cost associated with these discussions will in all likelihood can possibly save you significant aggravation and costs in the future.
Usually the mortgage company wants the spouse to sign off of the mortgage. A divorcing spouse may not wish to sign a mortgage with their soon-to-be ex spouse. It is generally better to wait until the divorce is complete before purchasing real property. If you wish to still do this, it is essential that you consult with an experienced family law attorney, who may be able to draft a binding agreement with the other spouse with regard to the property.
By purchasing the condo while you are married as a primary residence, the law usually requires that both husband and wife sign a conveyance or mortgage regarding the real estate for it to be applicable or enforceable against both spouses. You will still have a spouse when you purchase the condo.
It is not uncommon, at the time of closing, for the spouse not acquiring the property to decline signing the mortgage due to its ramifications in the future.
Although this may seem like a another hassle to you - your situation is not unusual and should have raised a question earlier in the purchase process.
You should consult with your attorney and determine if there is a way to purchase the property after your divorce is finalized on July 11th. There could be ramifications for you by delaying the closing and these should be explored with your attorney. The ramifications maybe easy or hard to resolve. Each situation is dependent upon what is contained within the various documents associated with your purchase.
The best thing for you at this time is get with your attorney and even consider using the attorney for closing your condo purchase.
Glenn Ginsburg
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QUESTION: Can my husband sign the quit-claim deed after closing as a married person and I file it then,or do I have to wait until July 11, 2008 when divorce is final and then file the quit-claim deed as an unmarried person? I am glad that the mortgage company states he doesn't have to be on the mortgage. Apparently a married person can purchase and or sell property as an individual but the spouse has to sign a conveyance. I guess it really isn't that much of a hassle. At this time the divorce isn't bitter and my spouse is buying out my half of the property that we live in now. So if he wants me to sign off his property he will have to sign off my property.
Answer Hi Laura,
The more information you furnish and questions you ask - gives rise to more concerns for you.
No one knows has a crystal ball to predict what the future holds for us and what might be great day, tomorrow can turn into an entirely different set of circumstances.
My advice is that you should adequately ensure you are protected, should circumstances change.
