Posted on: 19th Jun, 2007 08:35 am
i signed a quit claim deed during my divorce my divorce papers state that my spouse was to either refinance or sell the property within 2 years of our divorce. it has now been three years and the house has not been sold or refinanced. he now wants to sell the house. is the quit claim deed still valid? can i recieve funds from the sell of the house?
Hi Gina,
Welcome to Mortgagefit discussion board.
"Is the quit claim deed still valid?"
After the deed is made out it remains valid until the time a new deed is made to change the ownership rights. You can sue him for not working as per the divorce agreement which stated that the house was to be sold or refinanced within the next 2 years.
But as he has agreed to sell it now you should not object to it. The reason is that way your name will be removed from the mortgage which is still in both names after it is paid off.
The other point you have raised:
"Can I recieve funds from the sell of the house?"
It really depends what your divorce agreement stated. If it mentioned that house & mortgage responsibility will be your husband's and he needs to sell the house to pay off the loan or refinance in his name then it seems you are not to get any part from the proceeds of the sale. The good thing for you would be that it will no longer show on your credit report after being paid off.
Do let me know if you have any other questions.
Thanks
Blue
Welcome to Mortgagefit discussion board.
"Is the quit claim deed still valid?"
After the deed is made out it remains valid until the time a new deed is made to change the ownership rights. You can sue him for not working as per the divorce agreement which stated that the house was to be sold or refinanced within the next 2 years.
But as he has agreed to sell it now you should not object to it. The reason is that way your name will be removed from the mortgage which is still in both names after it is paid off.
The other point you have raised:
"Can I recieve funds from the sell of the house?"
It really depends what your divorce agreement stated. If it mentioned that house & mortgage responsibility will be your husband's and he needs to sell the house to pay off the loan or refinance in his name then it seems you are not to get any part from the proceeds of the sale. The good thing for you would be that it will no longer show on your credit report after being paid off.
Do let me know if you have any other questions.
Thanks
Blue
Hi Gina,
The validity of the deed will depend upon the state laws. Which state are you in? If you can let me know, then I shall try to give you the right information.
However, what I feel is, you can take a legal action against your spouse for not having acted as per the divorce papers. And, as per your state laws, if the deed is valid, then you will be entitled to a share of the sale proceeds. Moreover, it's not your fault that the house has not been sold, it's because your spouse didn't go for it. So, legally you should not be deprived of the sale proceeds. Anyway, you may still consult a lawyer for further clarification.
Hope this helps..
God bless you.
Samantha
The validity of the deed will depend upon the state laws. Which state are you in? If you can let me know, then I shall try to give you the right information.
However, what I feel is, you can take a legal action against your spouse for not having acted as per the divorce papers. And, as per your state laws, if the deed is valid, then you will be entitled to a share of the sale proceeds. Moreover, it's not your fault that the house has not been sold, it's because your spouse didn't go for it. So, legally you should not be deprived of the sale proceeds. Anyway, you may still consult a lawyer for further clarification.
Hope this helps..
God bless you.
Samantha
"I signed a quit claim deed during my divorce my divorce papers state that my spouse was to either refinance or sell the property within 2 years of our divorce. It has now been three years and the house has not been sold or refinanced. He now wants to sell the house. Is the quit claim deed still valid? Can I recieve funds from the sell of the house?"
Did your divorce papers mention anything about how the proceeds from sale of the house are to be divided between both of you?
Did your divorce papers mention anything about how the proceeds from sale of the house are to be divided between both of you?
Hello Gina,
The validity of the quit claim deed depends from state to state. Hence, I need to know, in which state you reside? You can also sue your ex for not receiving the funds from the sell of house. You may also consult a lawyer for helping you to resolve this situation.
The validity of the quit claim deed depends from state to state. Hence, I need to know, in which state you reside? You can also sue your ex for not receiving the funds from the sell of house. You may also consult a lawyer for helping you to resolve this situation.