Posted on: 13th Jun, 2010 02:45 pm
hello-
i signed a quit claim deed about 2 years ago when my ex and i split. he informed me 3 weeks ago that he was no longer paying on it and had tried to do a deed in lieu of but was not able to as the loan was still in good standing. i can afford to take over - however, need to undo the quit claim. further, if i get him to sign one, and sell the place at a profit later, would he have any rights to that?
this is in colorado.
thank you for the assistance!
kate
i signed a quit claim deed about 2 years ago when my ex and i split. he informed me 3 weeks ago that he was no longer paying on it and had tried to do a deed in lieu of but was not able to as the loan was still in good standing. i can afford to take over - however, need to undo the quit claim. further, if i get him to sign one, and sell the place at a profit later, would he have any rights to that?
this is in colorado.
thank you for the assistance!
kate
Welcome kateschmitz,
In order to take over the property, you will have to ask your husband to sign the quit claim deed back in your name. Once he transfers the property in your name, you become the sole owner of it. In that case, after the property is sold off, he won't be able to come after you for the profit, if any, resulting from the sale.
In order to take over the property, you will have to ask your husband to sign the quit claim deed back in your name. Once he transfers the property in your name, you become the sole owner of it. In that case, after the property is sold off, he won't be able to come after you for the profit, if any, resulting from the sale.
So just to be sure I understand; this all happens in one document, if he signs a Quit Claim Deed then it effectively reverses the one I signed and makes it effective for him. The assistance is greatly appreciated!
Kate
Kate
Hi Kate!
Welcome to forums!
Once your husband signs the deed, you need to record the deed at the county recorder's office and you would become the owner of the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Once your husband signs the deed, you need to record the deed at the county recorder's office and you would become the owner of the property.
Feel free to ask if you've further queries.
Sussane