Posted on: 24th Feb, 2009 02:06 pm
my husband just bought a house in his name only as I have bad credit, and they had me sign one of these it looks to me like I just gave him the house? Can you please explain this to me? We are married this really hurts, and I'm not sure exactly what it was I signed our realator told me it was to put me on the house since I couldn't be on the loan(?)
Thank you,
melissa Obeso
Thank you,
melissa Obeso
hi melissa,
it looks like you signed a quit claim deed which is used to transfer one's share of interest to another. it seems that since you have bad credit your husband had to buy the house in his name. in order to qualify for the loan he needed to have the title in his name only which is why he had you sign a quitclaim deed whereby you transferred your property-interest to him paving the way for him to finance the house in his name.
it looks like you signed a quit claim deed which is used to transfer one's share of interest to another. it seems that since you have bad credit your husband had to buy the house in his name. in order to qualify for the loan he needed to have the title in his name only which is why he had you sign a quitclaim deed whereby you transferred your property-interest to him paving the way for him to finance the house in his name.