Posted on: 22nd Feb, 2009 07:37 am
went through a divorce in 2005, ex was awarded martial home subject to a lein for $6000 payable within 18 months. well the house is worth less than the current mortgage. should i just sign quit claim deed to get my name off the property. my name is already off the mortgage so that is not a concern.
i have been holding off signing it, hoping that me ex would pay me but that will probably never happen.
if she defaults on the mortgage would i have first dibs on the house if i keep my name on the deed?
i have been holding off signing it, hoping that me ex would pay me but that will probably never happen.
if she defaults on the mortgage would i have first dibs on the house if i keep my name on the deed?
Hi Guest,
You can surely take your name off the title to the property through a quit claim deed. However, since your name isn't on the mortgage, if she defaults she will be held responsible, not you and it won't affect your credit score.
You can surely take your name off the title to the property through a quit claim deed. However, since your name isn't on the mortgage, if she defaults she will be held responsible, not you and it won't affect your credit score.
What about for taxes if she defaults on those, I would still be liable.
Hi Mifleck,
As you are on the title, you will be liable for the taxes. However, if you quitclaim your share in the property to her, you needn't worry about the taxes.
As you are on the title, you will be liable for the taxes. However, if you quitclaim your share in the property to her, you needn't worry about the taxes.