Posted on: 24th Jul, 2008 12:51 pm
If my husband signs a Quit Claim over to me. If he gets into some kind of legal issue and was sued, Could they put a lien on my home.
Our home at this time is in both names.
Our home at this time is in both names.
Hi Guest. Welcome to the forum.
After your husband quitclaims the property to you, you will be the owner of that property. SO the creditor cannot put lien on your property if he owes anything to the creditor. BTW is it a mortgaged property?
Best of luck,
Larry
After your husband quitclaims the property to you, you will be the owner of that property. SO the creditor cannot put lien on your property if he owes anything to the creditor. BTW is it a mortgaged property?
Best of luck,
Larry
yes. The loan is in his name only. I am not able to have it refinanced at this time. But I have been making the payments. I just don't want him to go out and borrow money against it , or get out here and do whatever and someone come up owning my home.
Hello theotis,
With a quitclaim deed your husband would not be released from his obligation to any mortgage loan, or other lien secured against said property since the loan is currently in his name. Refinancing is the best means to achieve this. You would have to refinance the property in your name. But you have stated that you cannot refinance into your name at this time. Usually a lender will not allow the quitclaim if you cannot refinance into your name.
Let us know if you have more questions or still need further help.
Good luck.
With a quitclaim deed your husband would not be released from his obligation to any mortgage loan, or other lien secured against said property since the loan is currently in his name. Refinancing is the best means to achieve this. You would have to refinance the property in your name. But you have stated that you cannot refinance into your name at this time. Usually a lender will not allow the quitclaim if you cannot refinance into your name.
Let us know if you have more questions or still need further help.
Good luck.
