Posted on: 06th Aug, 2010 10:59 am
I am now divorced and my ex and I agreed that he should take the house as per the final decree of divorce. He provided me with a quit claim but I haven't signed it yet. Does a quit claim release me from responsibility if my ex defaults on the mortgage payments?
welcome guen_moon,
a quit claim deed will not help you in releasing your name from the mortgage. though you sign the quit claim deed, yet you would be liable for paying the loan unless your ex refinances it in his name.
a quit claim deed will not help you in releasing your name from the mortgage. though you sign the quit claim deed, yet you would be liable for paying the loan unless your ex refinances it in his name.