What does “exclusive rights” mean when its referring to the house in a divorce settlement?
Im a woman and husband is willing to give me exclusive rights to the house if I agree to less alimony. Does that mean I get it and he has no rights to it anymore. His name is removed???
Actually the term the lawyer used was "exclusive use", which Im thinking means he still has rights to the house. NO WAY IN HELL AM I GOING FOR THAT!
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You are correct Madam! Do with it as you please once the deed is signed over. Caution: Always have your own legal representative.
That is exactly what it means… but check the details out…. if the house is still mortgaged do you pay the rest of the mortgage or does he?
Can you sell the home and split the proceeds 50/50 etc…. Be carefull that he does not take a second mortgage out or refinance the house and take a larger note to get some cash to start over with and leave you will a nice large note to pay or a lien against the property. Just my thoughts but im not a lwayer…
That is what he wants BUT, make sure he doesnt saddle you with the payments. If you do get the house, you will have to make sure the attorney files the papers to get his name off the loan, or yours, whichever the case. A divorce settlement does not exclude the mortgage company from collecting from you. You may have to refinance it into the persons name that gets the house. Most attorneys do not know this, but I am a mortgage loan officer and have run into this problem a lot.
What that means is that they get it….who ever has exclusive rights that mean just what it sounds like…. many times a man my have owned a house prior to marriage so if he gets a divorce he has exclusive rights to the house…. it is considered separate property.