Posted on: 19th May, 2010 02:52 pm
Hello Joshua,
I have a couple of questions. My fiance went through a divorce, and her and her previous husband didnt do it with an attorney. She wants her name off the house, and release all financial obligations to her ex-husband, and does not want any profits from the sale of the house. since, the divorce has already taken place, she has seen her credit score become affected due to her ex being delinquent on the mortgage. She has filed a quit-claim deed. Does this remove her from all responsibility from the house, and her ability to later sue for any profits from the sale of the house? She does not want the profits, but her ex is afraid that the quit claim isnt strong enough to prevent her from coming back later in life to sue for money. Thanks, I would appreciate a swift response.
I have a couple of questions. My fiance went through a divorce, and her and her previous husband didnt do it with an attorney. She wants her name off the house, and release all financial obligations to her ex-husband, and does not want any profits from the sale of the house. since, the divorce has already taken place, she has seen her credit score become affected due to her ex being delinquent on the mortgage. She has filed a quit-claim deed. Does this remove her from all responsibility from the house, and her ability to later sue for any profits from the sale of the house? She does not want the profits, but her ex is afraid that the quit claim isnt strong enough to prevent her from coming back later in life to sue for money. Thanks, I would appreciate a swift response.
welcome felix,
once your fiancée signs a quit claim deed, it means that she had transferred all her rights regarding the property to her ex. thus, the ex would become the sole owner of the property. your fiancée will not be able to go after him for any profits that he makes from the sale. however, signing the quit claim deed will not remove your fiancée from the loan. she will still be liable for the loan unless her ex refinances it in his name.
once your fiancée signs a quit claim deed, it means that she had transferred all her rights regarding the property to her ex. thus, the ex would become the sole owner of the property. your fiancée will not be able to go after him for any profits that he makes from the sale. however, signing the quit claim deed will not remove your fiancée from the loan. she will still be liable for the loan unless her ex refinances it in his name.