Posted on: 22nd Dec, 2005 12:02 pm
i was married for 8 yrs and separated now for 4 but not officially divorced yet. my ex hubs purchased a condo 3 months before we got married and i had nothing to do with any paper work or any involvement with the condo. we lived in it for 8 yrs and i left 4 yrs ago due to an unhealthy and verbal abusive environment. i left everything but by cloths and started a new life. now after 4 years of being separated he wants me to sign a quit claim deed because he wants to sell the condo. what i don't understand is why i have to sign this form. could anyone be added to a title without knowing? am i entitled to something? i really would like to pay for a divorce.
my fiance and i bought a house together, then she refinance under her name and now she lost her job and is gonna foreclose, we are getting letters from law office with both names on it. am i still legally responsible for the mortgage? and how can i not be involved with the foreclosure?
Hi Tony,
Welcome to the forum.
Are you still on the deed of the property and also on the mortgage? It may be that you are not on the mortgage as your fiancé has refinanced the mortgage in her name but you are still on the deed of the property. That is why you got the letter as the property is going to be foreclosed.
Thanks.
Larry
Welcome to the forum.
Are you still on the deed of the property and also on the mortgage? It may be that you are not on the mortgage as your fiancé has refinanced the mortgage in her name but you are still on the deed of the property. That is why you got the letter as the property is going to be foreclosed.
Thanks.
Larry
My wife and I are in the final stages of divorce. Our mortgage is in MY name only and the deed is in both our names. She has requested a quit claim deed, supposedly, so she can refinance. She currently lives in the house. She hasn't paid the mortgage for 8 months now and the bank is threatening foreclosure. If I sign a quit claim deed, will she NOT have to pay the 8 months of back payments and go on to live in the house and I be left with the mortgage, or does the title show the past due payments and she can refinance the house, while I'm left holding the other mortgage?
Hello Lavell,
A quit claim deed will not release you from the financial liabilities. It will only remove your name from the title.
If your name is on the mortgage then legally you are responsible to make the payments. Was there any written agreement between you and your wife that she is going to make the mortgage payments on your behalf?
If the payments have not been made for the past 8 months then the bank might come any time to foreclose on your property and this will affect your credit seriously.
You should talk to the bank as early as possible. The bank might call the entire loan amount due immediately if you sign a quit claim deed without informing them.
A quit claim deed will not release you from the financial liabilities. It will only remove your name from the title.
If your name is on the mortgage then legally you are responsible to make the payments. Was there any written agreement between you and your wife that she is going to make the mortgage payments on your behalf?
If the payments have not been made for the past 8 months then the bank might come any time to foreclose on your property and this will affect your credit seriously.
You should talk to the bank as early as possible. The bank might call the entire loan amount due immediately if you sign a quit claim deed without informing them.
I have been divorce for 7 years, but the house was not discussed in the divorce. My ex stated that I signed a quitclaim deed, which I was un aware of. He stated to me that he wanted to refinance so his payments could be lower, so i signed because I trusted him. I was unaware that I was signing over my interest in the property to him. we live in Maryland and the quitclaim was not filed or recorded. Does this mean my names is taken off everything including the title deed and the home owners insurance? What can I do?
Hi Bee Bee,
Welcome to our community forums.
It seems that you have signed in the quitclaim deed unknowingly. You should have read through the deed. But if the deed has not been recorded, you still have a fair chance of getting back the property in your name. If you can take a legal action against your ex-spouse and prove that he has deceived you into filing the deed, then it might be possible to get back the ownership rights.
However, when you get back the rights, you may have to refinance the loan again in your name. Think about all aspects and then decide if at all you want the property back.
Regards,
Jessica
Welcome to our community forums.
It seems that you have signed in the quitclaim deed unknowingly. You should have read through the deed. But if the deed has not been recorded, you still have a fair chance of getting back the property in your name. If you can take a legal action against your ex-spouse and prove that he has deceived you into filing the deed, then it might be possible to get back the ownership rights.
However, when you get back the rights, you may have to refinance the loan again in your name. Think about all aspects and then decide if at all you want the property back.
Regards,
Jessica
When my husband and I bought our house we could not qualify for the loan on our own, so my father became a co-borrower. We have now paid off the mortgage and would like to remove my father's name from the title. Is a quit claim deed the way to go?
Hi Joally,
Welcome to the forum.
You should request your father to sign a quitclaim deed to you to transfer the property to you. You will have to notarized the deed and record it in the county recorder office.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Welcome to the forum.
You should request your father to sign a quitclaim deed to you to transfer the property to you. You will have to notarized the deed and record it in the county recorder office.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Thanks so much, Larry. Would this be considered a transfer of property? I'm confused, because our names are already on it, so it's not really a transfer, is it? The reason I ask is because if it is a transfer, we have to fill out a "Preliminary Change of Ownership" form, which seems to imply there will be taxes to pay or something. Can you clarify? TIA!
Hi Joally,
It will be a transfer of interest in property from your father to you and your husband. And, depending upon certain conditions there may be gift taxes involved.
Please go through http://www.mortgagefit.com/discuss/quitclaim-taximplications.html#3127 and http://www.mortgagefit.com/gift.html#exemption to know more about tax consequences of quitclaim.
Hope this helps...
God bless you.
Samantha
It will be a transfer of interest in property from your father to you and your husband. And, depending upon certain conditions there may be gift taxes involved.
Please go through http://www.mortgagefit.com/discuss/quitclaim-taximplications.html#3127 and http://www.mortgagefit.com/gift.html#exemption to know more about tax consequences of quitclaim.
Hope this helps...
God bless you.
Samantha
how do i take my 3 sons names off my quit claim deed on my house?
Hi Sue,
I've already given my suggestion at http://www.mortgagefit.com/warranty-deed-5.html#48446 . Please have a look at it.
Thanks
I've already given my suggestion at http://www.mortgagefit.com/warranty-deed-5.html#48446 . Please have a look at it.
Thanks
My mother recently had a stroke, and she has many doctor bills to pay that she can't afford. If she doesnt pay those bills soon they will put a lean on the house. If she lets me sign a quitclaims deed will this avoid a lean on her house?
Chris H, please start a new thread with your question.
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