Posted on: 13th Mar, 2009 12:47 pm
Hi there.
I am currently going thru a simple divorce in terms of having no joint assets being split, no alimony or children..thank God. The only problem is we purchased a home in sept and thru the divorce i am signing the house over to him so im not responsible legally for anything. im filling the form out myself, can someone help?
who is grantor? both of us or me?? grantee? him?? amount??
then what????????
thank u so much
:cry:
I am currently going thru a simple divorce in terms of having no joint assets being split, no alimony or children..thank God. The only problem is we purchased a home in sept and thru the divorce i am signing the house over to him so im not responsible legally for anything. im filling the form out myself, can someone help?
who is grantor? both of us or me?? grantee? him?? amount??
then what????????
thank u so much
:cry:
Hi dahl,
A graqntor is the person who is transferring the property-interest and the person receiving it is the grantee. Here, you are the grantor as you will be transferring your share in the property to your husband, the grantee. If he is buying you out i.e. paying you money for signing over your share, you need to put that amount on the deed. If no money is being exchanged then, as far as I know, a minimum of $10 is to be written down on the deed.
However, I'm not a legal expert and It's better to consult an attorney to avoid any dispute in future. By the way, I'd also like to add that signing the deed won't relieve you of your financial liability if ther is a mortgage on it.
A graqntor is the person who is transferring the property-interest and the person receiving it is the grantee. Here, you are the grantor as you will be transferring your share in the property to your husband, the grantee. If he is buying you out i.e. paying you money for signing over your share, you need to put that amount on the deed. If no money is being exchanged then, as far as I know, a minimum of $10 is to be written down on the deed.
However, I'm not a legal expert and It's better to consult an attorney to avoid any dispute in future. By the way, I'd also like to add that signing the deed won't relieve you of your financial liability if ther is a mortgage on it.
thanks jenkin. will a quit claim deed take me off all other financial responsibilities dealing with the home other than the mortgage?
Hi dahl,
A quitclaim deed cannot take you off mortgage or any other financial responsibilities. To get rid off the mortgage, after you quitclaim you need to get it refinanced in his name, otherwise you will still be responsible for the loan, while the title and rights to the proeprty would be in your husband's name.
A quitclaim deed cannot take you off mortgage or any other financial responsibilities. To get rid off the mortgage, after you quitclaim you need to get it refinanced in his name, otherwise you will still be responsible for the loan, while the title and rights to the proeprty would be in your husband's name.