by lala711 on August 12th, 2009

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My boyfriend is divorced. He and his ex wife bought his home five years ago. He got the home in the divorce, and still lives there. The ex wife wants her name off. My boyfriend and I want to put my name on. How is this done?

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by Sherri on August 12th, 2009
You have a couple of different things going on here.
First, the x wanting her name off: I'm assuming it's on the loan and the only way to get her name off is to refiance the loan which with the economy the way it is, may not be possible.
Then, putting your name on: you could go on the loan at the time he refi's BUT be aware that this just may trigger a reassessment of property values on the house since you are not married to him. AND it could also trigger filing an IRS gift tax return as he will be gifting you 1/2 of the equity in the home. AND if he puts you on the loan, what happens IF you two break up?
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My boyfriend is divorced. He and his ex wife bought his home five years ago. He got the home in the divorce, and still lives there. The ex wife wants her name off. My boyfriend and I want to put my name on. How is this done?

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My boyfriend is divorced. He and his ex wife bought his home five years ago. He got the home in the divorce, and still lives there. The ex wife wants her name off. My boyfriend and I want to put my name on. How is this done?

Answers. 1 helpful answer below.

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