Can I sell my half of my house to my wife? We are getting divorced but we have not even separated yet. Before we do, I would like to sell my half of our house to my wife. She wants it, I don’t, and I need the money to move out. Is this something that can be done with a REALTOR® or lawyer, or can it be written up in the separation papers? Is it something that we can just do without divorce or separation involved?

-Zanadua

Absolutely, in fact it’s quite common. My advice to you would be to consult a licensed attorney in your state for further information. He or she will be able to guide you through the process and ensure it is done correctly.

When a husband and wife buy a home together, they own it as “tenants by entirety.” In essence this means that each spouse owns the whole estate and not a fractional part. When there is a divorce, the tenancy by entirety is dissolved into a “tenancy-in-common,” whereby each spouse has a one-half interest in the property.

To answer your second question: I wouldn’t recommend doing this without the help of an attorney and I would like to emphasis that this is not within the scope of a Realtor’s expertise.

John Agnello is a REALTOR® for Long and Foster, Real Estate Inc. in Cherry Hill, NJ

I’m in the process of getting a divorce and we need to settle on the house. I’m on the deed as well as the promissory note, however the loan is not in my name. I’m willing to sign off on the house but I also want to be released from all financial responsibilities. What are my options? Would it be to either have my soon-to-be ex refinance or short sale? Are there any other alternatives?

-Denise

The best advice I can give you would be to contact a local real estate attorney who wil be able to go over the options you have. I’m not allowed to give legal advice and deciding how to proceed with settling property tied up in a divorce proceeding would be giving legal advice.

I would also recommend that you contact the mortgage company or bank that holds your mortgage to find out the pay-off amount and what they would be willing to allow you and your soon-to-be ex-husband to do with respect to taking your name off the note so that your ex-husband has sole legal responsibility to pay off the existing mortgage. The last thing you want to do is take the advice of someone who is not licensed in your state to provide the correct legal information/advice regarding your situation.

Tim McBrayer is a licensed Realtor in the Triangle specializing in North Raleigh, North Carolina Real Estate. He is an Eco Broker and serves on the Green Builders of the Triangle education committee.