Posted on: 08th Sep, 2009 05:56 am
i signed aquit claim deed to my husband on our property. he had taken out a morgage on the a few years before, am i still liable for the debt on the property because we are still married. if we divorced what happens, because of the quit claim deed?
Hi,
When you sign a quitclaim deed, you release all your rights to the property. So, if you've signed a quitclaim deed and transferred your property rights to your husband, you no longer own the property. Are you on the loan which he took on the property? In case, you are on the loan and you signed the mortgage note, you have a responsibility for the loan. But if your name isn't on the loan, you're not responsible for it.
When you sign a quitclaim deed, you release all your rights to the property. So, if you've signed a quitclaim deed and transferred your property rights to your husband, you no longer own the property. Are you on the loan which he took on the property? In case, you are on the loan and you signed the mortgage note, you have a responsibility for the loan. But if your name isn't on the loan, you're not responsible for it.