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What is better Interspousal Transfer or Quitclaim

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garycooper40 Joined: 29 Apr 2009 Posts: 1 1.30 Dollars($)	Posted: Wed Apr 29, 2009 1:24 pm    Post subject: What is better Interspousal Transfer or Quitclaim I have a few credit issues, wife has perfect credit and sufficant income to buy house..I want her to be able to purchase a home for our kids..My big deal is I dont want my income or credit to be the issue..Lawyer told me to do a interspousal for the lender to look at her credit and income indepently from what I have as for credit. California doesnt make it easy because its a community property state..What should I do?
jenkin7 Joined: 04 Jun 2007 Posts: 3429 Location: Hawaii 514.13 Dollars($)	Posted: Wed Apr 29, 2009 11:22 pm    Post subject: Hi garycooper, All you need is to sign an interspousal deed and transfer your property interest to your wife. This will help her qualify for a loan independently. A quitclaim can also transfer the owership, but as it is a community property state an interspousal transfer would be the best for you.

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