Posted on: 03rd Oct, 2009 05:31 pm
My ex husband and I purchased timeshare together. In our settlement I gave him the timeshare with the understanding that he would remove my name from the deed. He is trying to get me to sign quitclaim deed without being notirized just my signature on a form that is not prepared. Does this indeed remove my name from the deed and relieve me from any financial responsibilty The mortgage is paid off but the maintenace fees and taxes are every year.
in a quit claim deed it needs to be notirized and recorded in teh county
make sure you follow the process
but on the side note if you name is on the loan then quit claim deed will not remve your name from the loan
make sure you follow the process
but on the side note if you name is on the loan then quit claim deed will not remve your name from the loan
hi happy!
welcome to forums!
when you sign a quitclaim deed in your husband's favor, it would remove your name from the property deed. that does not mean your name would be removed from the mortgage also. in order to remove your name from the mortgage, you'll have to ask your ex-husband to refinance the loan in his name. once he does so, you're free from the financial obligations related to the mortgage. but as you've mentioned that the mortgage is paid off, there is no need to refinance the loan. you can simply transfer the property to your husband.
feel free to ask if you've further queries.
sussane
welcome to forums!
when you sign a quitclaim deed in your husband's favor, it would remove your name from the property deed. that does not mean your name would be removed from the mortgage also. in order to remove your name from the mortgage, you'll have to ask your ex-husband to refinance the loan in his name. once he does so, you're free from the financial obligations related to the mortgage. but as you've mentioned that the mortgage is paid off, there is no need to refinance the loan. you can simply transfer the property to your husband.
feel free to ask if you've further queries.
sussane