Posted on: 21st Jun, 2011 08:33 am
hi, i am legally separated from my husband. i have been for 2 years. he just contacted me and wants me to sign a quit claim deed. i filed bankruptcy in november 2010. i left him in may of 2008 with my daughter, clothes and our pets. in the bankruptcy i listed the bank that holds the mortgage as a debtor. he has recently filed bankruptcy and the house is in forclosure and he wants me to file this claim?
The quitclaim will remove you from title to the property. Doing so, maybe he is trying to save you from the foreclosure. You are basically giving up ownership when you file a quitclaim. If you are still on the loan, then quitclaim will not remove you from the loan, only title. To be removed from the loan, you would have to refi or sell the property.
Signing a quit claim deed simply because your ex-husband asked you to do so would be downright foolish. If you have legal questions - and you obviously do - then you ought to be speaking with a legal expert - commonly known as a lawyer. that's where you'll find out what to do to ensure that the home is protected; that you're protected; and that
What did I just do?
I sent out that last sentence half-baked! I just noticed this and can't recall what my train of thought was...sorry, kids!
I sent out that last sentence half-baked! I just noticed this and can't recall what my train of thought was...sorry, kids!
Hi cramatjm,
As you have already filed bankruptcy and received a discharge, you won't be liable for the debts in any way. If you sign the quitclaim deed, you will lose the right to live in that property. If you don't have any problems with that, then you can sign the quitclaim deed and transfer the property to him.
Thanks
As you have already filed bankruptcy and received a discharge, you won't be liable for the debts in any way. If you sign the quitclaim deed, you will lose the right to live in that property. If you don't have any problems with that, then you can sign the quitclaim deed and transfer the property to him.
Thanks
James, by signing a quit claim deed, she wouldn't be forfeiting her rights to reside in the home...she'd be giving up her ownership rights.