Posted on: 28th Aug, 2008 11:11 am
Am i still responsible for the Payments if i quickdeed my house to my ex?..i am going through a divorce if i quickdeed the house to him am i still responsible for payments with the mortgage company
Are you signed on the loan? If so yes.
A quit claim deed transfers property interests & financial obligations in regard to property taxes, etc. but does not release you from financial obligations where mortgages are concerned.
A quit claim deed transfers property interests & financial obligations in regard to property taxes, etc. but does not release you from financial obligations where mortgages are concerned.
Yes. The divorce decree does not override your contractual obligation to the note. If there is equity in the property, your ex may obtain a refinance to buy your interest out without it being considered a cash out refinance. You should look into that.
