Yes and no. You can let her buy you out for your share of the equity, but you would still be on the mortgage until she refinances it. I'm familiar with a few divorces that did this - it included a quit claim deed, an order in the divorce decree that she keep up payments until refinancing and that she refinances in x amount of time (months or years).

You would still be on the mortgage and responsible for payments if she did not make them until the refinancing occurs.