Posted on: 16th May, 2006 02:37 pm
My husband and I are both on the title of our home. My husband is the only one on the mortage loan. I have several unsecured debts in my name only that I'm trying to set up payment plans with because I'm behind. I want to be proactive, in case one of the creditors decides not to work with me and trys to put a lien on our home. The are no liens on the home at this time. I'm willing to sign a quickclaim deed. Will this protect my home from the creditors if I sign and will this take my name off of the title? Does my husband have to know I signed a quickclaim deed? He does not know about the debts and I want to get them paid off, but it is going to take me time. Thanks
You would have to buy the property mostlikely. Commersial real estate is different from residential.
Hi Tydouglas,
I agree with Eugene that as it is a commercial property, you may have to buy out the property from your friend. A mere property transfer with a quitclaim may not serve the purpose.
I agree with Eugene that as it is a commercial property, you may have to buy out the property from your friend. A mere property transfer with a quitclaim may not serve the purpose.
My wife and I are divorcing after 19 years of marriage. For the last ten years we have lived in our current home. Three years ago she threatened divorce unless I quitclaimed the house to her which I agreed to hoping to save my marriage. Needles to say that did not work and she has still decided to divorce me and contends the house is hers. Do I have any recourse or rights to the property? The mortgage is and always has been in both of our names. Thanks in advance for any insight.
Hi Dewman,
Welcome to the forums.
The mortgage may be in your name but as you have quitclaimed the property to your wife and conveyed your share of interest in it entirely, therefore currently she is the owner. However, if the divorce is to be done through a court case, then you can claim the property in court and see of it is awarded to you or else in future if you may get a part of the sale proceeds when the property is being sold.
Take Care
Welcome to the forums.
The mortgage may be in your name but as you have quitclaimed the property to your wife and conveyed your share of interest in it entirely, therefore currently she is the owner. However, if the divorce is to be done through a court case, then you can claim the property in court and see of it is awarded to you or else in future if you may get a part of the sale proceeds when the property is being sold.
Take Care
If I quit claim a house/property to my x-husband. At anytime HE fails to pay will I be responsible for ANY of those payments etc. TKY
Hi Sue C,
Welcome to the forums.
If you are on the loan along with your husband, only then you will be responsible if your ex-husband stops paying. Otherwise, you will have no such liability.
Take Care
Welcome to the forums.
If you are on the loan along with your husband, only then you will be responsible if your ex-husband stops paying. Otherwise, you will have no such liability.
Take Care
my gram is a co-signer on my cousins home she owns her home out right but they didnt pay their mortage and now theyare being forclosed on and they have nothing she is worried that they will come after her home or the money she sells it for when she moves because she will n ot be putting it in another homestead but moving in with me, if she quitclaims it to me can they touch it -i live in florida
Hello Sara,
If your grandmother has kept her house as a collateral, only then, the lender might come after that and otherwise not.
Few other members of the community have discussed about this here http://www.mortgagefit.com/quitclaim/afterforeclosure-cosignerhome.html. You may have a look.
If your grandmother has kept her house as a collateral, only then, the lender might come after that and otherwise not.
Few other members of the community have discussed about this here http://www.mortgagefit.com/quitclaim/afterforeclosure-cosignerhome.html. You may have a look.
My husband and I have been going through a very long drawn out divorce, I have been living in the home since the separation but cannot afford the bills he has been paying them through court order. We just found out that he has stage 4 colon cancer and no insurance. My question is can he quit claim the home over to me to avoid a lien for medical bills? I really don't want to push the divorce at this time which Im sure my lawyer would advise to do so. I really don't want to put him through any legal battles at this time and feel that I need to be there for him. Also he has no life insurance but he owns a partnership that he is leaving to his children. Any advise would be greatly appreciated, Thank you
Hi Michelle,
As far as I know, medical bills are unsecured debts and cannot attach lien to your property.
As far as I know, medical bills are unsecured debts and cannot attach lien to your property.
Michelle,
It's sad to know about your husband's illness. But please do not lose hope. May god give you the strength to fight against this situation.
However, if your husband has been in nursing home and you have not been able to pay the bills, after a certain time, the might place a lien on your home and even if you quitclaim, it may be considered as fradulent conveyance. To know more on this, refer to http://www.mortgagefit.com/quitclaim/avoidliens-onhome.html .
It's sad to know about your husband's illness. But please do not lose hope. May god give you the strength to fight against this situation.
However, if your husband has been in nursing home and you have not been able to pay the bills, after a certain time, the might place a lien on your home and even if you quitclaim, it may be considered as fradulent conveyance. To know more on this, refer to http://www.mortgagefit.com/quitclaim/avoidliens-onhome.html .
My stepfather bought a home for me.Now he and my mom are divorced and he wants me to get the home in my name, he signed a quick claim over to me. what are my rights and responsibilites to the home. He said that if I didn't get the home in my name he would take legal action. what could he do?
Hi Patti Pyoi,
Welcome to this forum,
First of all you have to noterized and record the deed in the county recorder office to make it valid.
Is it a mortgaged property? Has the mortgaged been transferred to you? IF not then I think there is no big problems. You may have to pay only some taxes like property tax and others.
Feel free to ask if you have any further questions.
Thanks,
Larry
Welcome to this forum,
First of all you have to noterized and record the deed in the county recorder office to make it valid.
Is it a mortgaged property? Has the mortgaged been transferred to you? IF not then I think there is no big problems. You may have to pay only some taxes like property tax and others.
Feel free to ask if you have any further questions.
Thanks,
Larry
Thanks for getting back to me, it is a mortgaged property, and the mortgage has not been transferred to me. I have been paying for the mortgage myself for the last 24 months. If he passes away what happens to the mortgage on the property? I am presently under bankruptcy and not able to finance a home now. He wants to buy a new home for his new wife. He is in bad health.
hi patti pyoi,
welcome back,
so as you are presently under bankruptcy, you cannot refinance the mortgage to your name. does your stepfather asked you to take the mortgage on your name after quitclaiming the home to you? if not then let it be on his name.
by the way, the lender does not allow to quitclaim if it is a mortgaged property. so how could you father quitclaim the property to you? has he done it without informing to the lender?
feel free to ask if you have any further questions.
thanks,
larry
welcome back,
so as you are presently under bankruptcy, you cannot refinance the mortgage to your name. does your stepfather asked you to take the mortgage on your name after quitclaiming the home to you? if not then let it be on his name.
by the way, the lender does not allow to quitclaim if it is a mortgaged property. so how could you father quitclaim the property to you? has he done it without informing to the lender?
feel free to ask if you have any further questions.
thanks,
larry