I need to know the best way to transfer property that is jointly owned by myself and my soon to be ex wife. She and her boyfriend want to buy me out and obtain a mortgage for the property.
Answer
You will need a licensed attorney to draft a deed for you. Your wife and her boyfriend will have their own attorney, who will be the closing attorney, but you need an attorney to draft the deed and protect your interests, especially in a divorce situation. The first thing you need is to get a contract in writing with exactly how they will be buying you out (how much money you are getting, what is being paid off, etc.). If you don't do that you're likely to have problems. Then, before closing, your attorney will send the deed to the closing attorney and will review the settlement statement for you to make sure you are getting what you are supposed to get. After closing, the closing attorney will record the deed and disburse the proceeds - you will get paid and your wife and her boyfriend will own the house.
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