Home arrow Mortgage Forums arrow Forums: Learn from other's experiences arrow

I signed interspousal deed. Do I have interest in property?

Author Message
Icon Mini Profile Bonnie22





Joined: 21 Sep 2008

Posts: 2

1.81 Dollars($)
Post Posted: Sun Sep 21, 2008 7:39 am    Post subject: I signed interspousal deed. Do I have interest in property?
Like 0
Dislike 0

I signed an interspousal transfer prior to closing a CA property. My husband has now signed a grant deed but with a granting clause R & T 11925 to put me back on the title before transferring it to a community property trust. What do I actually own? Married 27 years. I feel the clause excludes from owning an actual interest in the property and I only hold title. I need help understanding what took place.
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

Posts: 10030
Location: Alaska
919.49 Dollars($)
Post Posted: Sun Sep 21, 2008 10:39 pm    Post subject:
Like 0
Dislike 0

Hi Bonnie22!

Welcome to the forums!

Once you are back on the title of the community property trust that means you have all the right on the property. California being a community property state, if you have paid any portion of the mortgage for the house, you will have certain rights on the property. In case of divorce or partition, the property will be equally divided between both the spouses.

Feel free to ask if you have further queries.

Sussane
Icon Mini Profile Bonnie22





Joined: 21 Sep 2008

Posts: 2

1.81 Dollars($)
Post Posted: Mon Sep 22, 2008 7:16 am    Post subject: reversal of interspousal transfer
Like 0
Dislike 0

I am not on the loan. The loan was taken out in his name only. What effect does this now have on my real interest in the property and/or the title.
Susanne

Guest







Post Posted: Tue Sep 23, 2008 3:10 am    Post subject:
Like 0
Dislike 0

Hi Bonnie!

When you are not on the loan, then I don't think it will affect you in anyway. If the loan goes for a foreclosure, then there are chances that the lenders may ask you to pay the loan but that varies from one lender to the other.
Liz

Guest







Post Posted: Fri Oct 30, 2009 12:12 pm    Post subject: Interspousal Transfer Deed
Like 0
Dislike 0

I am in receipt of an Interspousal Transfer Deed (blank except of the Escrow No, my name and my ex spouse) and a Statement of Information from the escrow. I'm not comfortable in signing a blank form and the explanation on the Statemnt of Information was "Regarding the statement of information, it’s standard procedure that escrow have that for any transaction, to verify who every party is for certain."
Your thoughts?
Icon Mini Profile gmakerley
gmakerley
Community Mentor
Community Mentor

best lender badge

Joined: 09 Nov 2007

Posts: 12336
Location: bloomfield, ct
51.21 Dollars($)
Post Posted: Fri Oct 30, 2009 2:42 pm    Post subject:
Like 0
Dislike 0

my first thought, liz, is that you ought to discuss this with an attorney who knows a little something about such a document. if you don't understand what you're signing, you ought not sign it. if it makes sense after you've received counsel, then go ahead and sign it. honestly, it seems simple to me.
_________________
George M. Akerley
Independent Contractor - Mortgage Consultant
Word of Excellence Editing/Writing/Proofreading
860-221-5044
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Bookmark this page
Share |

Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit on Twitter

Followers (265)








Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.085 seconds.