Hi gretel pate,
Welcome to the forum.
Have you already signed the quitclaim deed to your ex? You should have asked him to take the loan on his name before you quitclaim the property to him.
Once you have quitclaimed you have no rights on that property but as your name is still on the mortgage you may qualify for tax break. Consult with a tax adviser regarding this.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Welcome to the forum.
Have you already signed the quitclaim deed to your ex? You should have asked him to take the loan on his name before you quitclaim the property to him.
Once you have quitclaimed you have no rights on that property but as your name is still on the mortgage you may qualify for tax break. Consult with a tax adviser regarding this.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Hi Gretel,
What tax break are you talking about? It seems both of you have your names on the loan. Regarding the rights, well, you can at the most request him for a refinance or request the lender to talk to him if he is unwilling to do so.
Take Care
What tax break are you talking about? It seems both of you have your names on the loan. Regarding the rights, well, you can at the most request him for a refinance or request the lender to talk to him if he is unwilling to do so.
Take Care
You are out of luck. By signing the QC deed, you have given up your rights in the property, but you still remain liable on the mortgage. Since you don't own the property, you cannot take the mortgage deduction.
