Posted on: 02nd Apr, 2007 02:32 pm
Hi,
When my ex husband and I bought a home together, 2 months after getting the house, he asked me to sign a quit claim to remove my name because my credit score is affecting the interest rate of the house. I did what he asked me. Now that we are divorcing and he's selling our house, he is using this quit claim document against me stating that I do not have a share from the proceed. We jointly payed for the mortgage and claimed the house in our joint tax return.
Can he use this quit claim against me to rob me off my fair share even if I can prove i payed for the house too and I only signed the quit claim so he can take my name on the title for "credit purposes" according to him when he explained it to me.
Please help.
When my ex husband and I bought a home together, 2 months after getting the house, he asked me to sign a quit claim to remove my name because my credit score is affecting the interest rate of the house. I did what he asked me. Now that we are divorcing and he's selling our house, he is using this quit claim document against me stating that I do not have a share from the proceed. We jointly payed for the mortgage and claimed the house in our joint tax return.
Can he use this quit claim against me to rob me off my fair share even if I can prove i payed for the house too and I only signed the quit claim so he can take my name on the title for "credit purposes" according to him when he explained it to me.
Please help.
Annabelle,
If you are living in a community property state, then as you had contributed towards mortgage payments you will get your proper share out of sale of the house even if your name is not on the title. Other states which are not community property states also have laws which make sure each spouse receives reasonable value at the time of divorce.
Court will always try to distribute property between husband & wife in an proper and equitable manner. And as you had contributed significantly towards the payments and have proof of that, you cannot be left out of the share you deserve.
David
If you are living in a community property state, then as you had contributed towards mortgage payments you will get your proper share out of sale of the house even if your name is not on the title. Other states which are not community property states also have laws which make sure each spouse receives reasonable value at the time of divorce.
Court will always try to distribute property between husband & wife in an proper and equitable manner. And as you had contributed significantly towards the payments and have proof of that, you cannot be left out of the share you deserve.
David
"Can he use this quit claim against me to rob me off my fair share even if I can prove i payed for the house too and I only signed the quit claim so he can take my name on the title for "credit purposes" according to him when he explained it to me.
Please help."
You have all the proof which divorce court will take into consideration which deciding how property should get divided. It is certain that you will get your proper share from sale of the house.
Please help."
You have all the proof which divorce court will take into consideration which deciding how property should get divided. It is certain that you will get your proper share from sale of the house.
As both of you had purchased the home after your marriage and common funds were used for making the mortgage payments it will be considered as community property (if community property laws apply in your state).
If it is not a community property state, it is called as equitable distribution state where laws are quite similar to what are applicable in a community property state.
What all of it means that you will get your share of the house even you had to quit claim it.
Thanks
If it is not a community property state, it is called as equitable distribution state where laws are quite similar to what are applicable in a community property state.
What all of it means that you will get your share of the house even you had to quit claim it.
Thanks
i had a townhouse in pg county and enrolled in a program which stated it would save my home from foreclosure. the program actaully have you selling the property to an investor. after 12 months of you renting your property back from the investor, and nothing being recorded at the credit bureau, you are suppose to be in a position to repurchase your home at the price the investor was financed for. i have offered to do a quit claim deed with this person, who agreed, but the third party which was included in the transaction want $2,000 keep the investors name on the property. i said no, clean deed and warranty deed, and estate coverage. now the third party is not answering my calls and my time for the program ended march 27th 12:00am midnight. what can i do? my daughter and her two children live in the townhouse.
"I have offered to do a quit claim deed with this person, who agreed, but the third party which was included in the transaction want $2,000 keep the investors name on the property."
Is the third party asking for this money as a fee for there service?
"The program actaully have you selling the property to an investor. "
If you are selling the property and lender is not informed then he can ask for the mortgage to be paid off immediately.
Is the third party asking for this money as a fee for there service?
"The program actaully have you selling the property to an investor. "
If you are selling the property and lender is not informed then he can ask for the mortgage to be paid off immediately.
Welcome Annabelle.
First of all, I feel that you should have asked your ex-husband as to how his interest rate was getting affected due to your credit score. I am saying this because by that you have already bought the house with the loan offered at a certain rate.
However, if it's an adjustable rate, it may still be affected by your score. But I don't think this is possible always. When you apply for a mortgage, your score should then and there have an affect on the initial rate that your lender or the mortgage company is offering you, and not after the loan has been approved.
Now that the quit claim is already done, can you tell me what the deed actually stated? If the quit claim says - "The purpose of this quit claim is to relinquish all rights and community interest that the grantor may have or acquire in future", then you cannot claim a share of the proceeds of the sale.
Thanks.
First of all, I feel that you should have asked your ex-husband as to how his interest rate was getting affected due to your credit score. I am saying this because by that you have already bought the house with the loan offered at a certain rate.
However, if it's an adjustable rate, it may still be affected by your score. But I don't think this is possible always. When you apply for a mortgage, your score should then and there have an affect on the initial rate that your lender or the mortgage company is offering you, and not after the loan has been approved.
Now that the quit claim is already done, can you tell me what the deed actually stated? If the quit claim says - "The purpose of this quit claim is to relinquish all rights and community interest that the grantor may have or acquire in future", then you cannot claim a share of the proceeds of the sale.
Thanks.