Posted on: 08th Jul, 2011 11:22 pm
I am divorced after 20 years of marriage..we bought a house seven years ago and my ex is living in it and wants to keep it..I signed a quitclaim deed for it..does that alone release me from any financial obligation for the house? Is there anything else that needs to be done so I am no longer liable for it?
Cheribaby, if you signed the original mortgage note, then you are liable for payments regardless of your relinquishing your ownership interest. Your former spouse would need to obtain a new loan, paying the old one in full, in order to release you from any liability.
