Property Ownership
A Minnesota couple divorces, and the divorce decree awards the marital home to the wife. The husband's name is still on the mortgage. What should the wife do?
ANothing - the divorce decree automatically removes the husband from the mortgage
BRefinance the mortgage in her name only to release the husband from liability✓ Correct
CHave the court order the lender to remove the husband's name
DSimply take title through quitclaim deed without refinancing
Explanation
A divorce decree transfers the property to the wife but does NOT release the husband from the mortgage obligation with the lender. The only way to remove the husband's liability is to refinance the mortgage in the wife's name only.
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