Mortgage is in my name, while the deed is in both our names and the house is currently for sale. An agreement is not in place as of yet. What happens in the event that we are legally divorced before the home is sold? Do we still jointly own it until it sells? What happens to the proceeds?
The ownership of the home will convert from tenants by the entirety (joint ownership as married persons with a right of survivorship) to tenants in common (joint ownership with no right of survivorship). You will still each own 50% of the home.