[quote=Eugene]
What exactly is the language of the divorce agreement where you agree to refinance the condo?
[/quote]
Here is exactly what the marital settlement agreement says:
18. COMMUNITY RESIDENCE
A. Husband shall be awarded, without offset, his separate, Wife’s separate and the community’s interest in the residence located at (address), subject to any and all encumbrances, including but not limited to the interest held by (ex-wife’s parents).
B. Within 60 days of the effective date of this agreement, Husband shall refinance property so that Wife is no longer liable for any debt associated with the residence. Wife shall cooperate with the refinance process, signing any documents necessary, or convenient, to facilitate the refinance. If Husband is unable to extinguish all loans through the refinance, he shall be solely responsible for the debts associated with the residence. Husband shall indemnify Wife, and hold Wife harmless, against any action brought for enforcement by any and all creditors claiming an interest in the residence. Husband will assure that (ex-wife’s parents) are paid in full pursuant the terms established between Husband and the (ex-wife’s parents).
[quote=Eugene]
Are your ex-in-laws aware that the property was appraised for 340k?
[/quote]
Yes they are aware. They contacted my mortgage broker a little while ago to ensure that I was indeed in the process of refinancing.
