Posted on: 22nd Mar, 2009 07:13 am
how does the quit claim deed work under the following scenario -
spouse is willing to sign a quit claim deed - there are no liabilities against the spouse at the time the deed is signed.
you are now the sole title on the property. if the spouse incurs any future liabilities are you likely to be liable for any of those liabilities if you are the sole title on the property.
please advise. thanks.
spouse is willing to sign a quit claim deed - there are no liabilities against the spouse at the time the deed is signed.
you are now the sole title on the property. if the spouse incurs any future liabilities are you likely to be liable for any of those liabilities if you are the sole title on the property.
please advise. thanks.
Hi needa,
When the spouse quitclaims the title to the property to you, you become the sole owner of the property. Now, if the grantor in future incurs any debt, you aren't supposed to be liable for that debt. That would be considered as the grantor's own liability and that will have no connection with you and the property you own.
When the spouse quitclaims the title to the property to you, you become the sole owner of the property. Now, if the grantor in future incurs any debt, you aren't supposed to be liable for that debt. That would be considered as the grantor's own liability and that will have no connection with you and the property you own.