Posted on: 29th Apr, 2010 09:21 am
hello.. iwas wondering if i give the quick claim deed to my wife and we are divorcing does that mean i no longer any interest in the home? and does my name come off of the house as well as my debt with the house? she wants the house and is upside down in the house , and i want to give it to her, but what are the things that i need to do ????
thanks
Leroy
thanks
Leroy
welcome leroy,
if you sign a quit claim deed, then you won't remain the owner of the property any longer. however, this does not mean that you would be released from the liability of paying the mortgage dues. though you sign the quit claim deed, you would be responsible for the loan payments. your wife needs to refinance the loan and get in transferred in her name in order to release you from the liability of paying the loan.
if you sign a quit claim deed, then you won't remain the owner of the property any longer. however, this does not mean that you would be released from the liability of paying the mortgage dues. though you sign the quit claim deed, you would be responsible for the loan payments. your wife needs to refinance the loan and get in transferred in her name in order to release you from the liability of paying the loan.