Posted on: 03rd Mar, 2007 03:51 pm
My soon to be ex-husband wants me to sign a quick claim deed. Will this take my name off of the house loan? What are the risks if I agree to this? Please help me out. He wants me to do this right now!!! What is he up too?
Welcome Jan,
When you sign a quitclaim deed, your name will be taken off the title to the property. The loan document will still have your name.
The risk is that you lose your interest in the property. You will no longer be able to own your part of property or sell it or offer it for rent.
As him to explain your properly why he wants you to sign the deed. Do not sign anything in paper until and unless you are fully convinced that it will not harm you.
When you sign a quitclaim deed, your name will be taken off the title to the property. The loan document will still have your name.
The risk is that you lose your interest in the property. You will no longer be able to own your part of property or sell it or offer it for rent.
As him to explain your properly why he wants you to sign the deed. Do not sign anything in paper until and unless you are fully convinced that it will not harm you.
Greetings Jan,
As has been indicated, signing a quitclaim would transfer any interest or ownership you may have in the property over to your ex-husband. It would NOT take your name off the loan.
So, you would still be liable for the loan, but you would have no interest in the property.
I would be very cautious, and recommend speaking to an attorney before signing anything.
Good luck!
8)
As has been indicated, signing a quitclaim would transfer any interest or ownership you may have in the property over to your ex-husband. It would NOT take your name off the loan.
So, you would still be liable for the loan, but you would have no interest in the property.
I would be very cautious, and recommend speaking to an attorney before signing anything.
Good luck!
8)
