Posted: Sun May 28, 2006 9:25 am Post subject: Divorce
I am on the title community property right of survival, but not the mortgage. Can he quick claim his part to someone else then I would only get a quarter instead of 1/2 the equity?
Posted: Sun May 28, 2006 8:54 pm Post subject: Re: 50% - 50% share on the community property
Hi Going Crazy,
As per the law, spouse may own the property as community property. It carries no automatic right of survivorship. Both the partners have 50%-50% interest on the property. Anytime one of the partners may pass his 50% share of the property to whomever they name in the will.
Quote:
Can he quick claim his part to someone else then I would only get a quarter instead of 1/2 the equity?
So, there is no doubt that he can quit claim deed his part (i.e. 50% only) to someone else at any time. And there is no question of getting a quarter part of the property. As the rest of 50% share of the property is completely yours. And whenever you want you can transfer that in anybody name.
Posted: Tue May 30, 2006 6:52 pm Post subject: quitclaim
my boyfriend and i just bought a house together and he's going to me to quick claim it to him now that were nmot getting married. I can't buy him out or get a mortgage on my own, and I do have some money in it, plus alot of the cleaning and repairs.. Do I have to move out or sign those papers?
Posted: Tue May 30, 2006 8:41 pm Post subject: Re: Quit Claim deed is not suitable option
Hi Sandi,
Taking out from the title of the house is not looks ok for me. If you are not going to married him, then that does not affect your joint property. You can stay in the property just as the co-owner.
For that I don’t think, quit claim deed is required. I suggest you not to move out from the property and do not sign on those papers.
In future if any body wants to quit from the property, then the person can sell his own portion of the property. There are lots of laws for co-ownership property. So, try to explain him about the co-ownership and ask him to stay with you as the co-owner partners.
Posted: Mon Jun 05, 2006 3:46 pm Post subject: Quick deed
My girlfriend and I owned a house and we recently split up. I did a quick deed to the house. She has now filed bankruptcy and now the loan people are coming after me for owing balance of 35k. Am I responsible for the outstanding loan even though I signed the quick deed?
Yeah, you are still on the loan even after transferring your interest in the property to your gf. Actually a quit claim deed only transfers your interest in the property to another person but, it has nothing to do with the mortgage.
That is the reason , the creditors are coming to you for the payments. To transfer the mortgage you need to refinance it in your gf's name.
Now this is a serious problem. If you still have your name on the mortgage and she is unable to make payments on it. That will damage your credit report.
Try to refinance the mortgage or seek a novation but it is unlikely that your girl friend will accept that as she has already filed a bankruptcy. Anyways you need to try to save your credit report.
Posted: Tue Jun 06, 2006 2:36 pm Post subject: sell of house
can a quick claim deed be done without the permission of the second party on the house loan. Divorce decree doesn't state nore did it state he got the house but sold it stating he did a quick claim deed without my permission.
Posted: Tue Jun 06, 2006 2:45 pm Post subject: sell of house
Hi Kathy,
Welcome to MortgageFit Forums.
As both of you are on the title then, the house can't be sold without your permission. Since you are on the house loan means that your house falls under community property.
Also as you say that it is mentioned nowhere in the divorce decree that the house will go to him. In that case it is illegal.
You can consult your attorney and get back to the court to claim your rights and compensation.
Posted: Thu Jun 15, 2006 7:18 am Post subject: signing a quick clsim deed
im going thru a divorce and both our names are on the house. i was awarded half the interest $31,000 but she is trying to put in the final decree that i am to sign a quick claim deed upon her request, and she is not to pay me my share until she sells the house, moves someone in or re-marries or until the kids turn 18, i said i was not signing anything until i was paid. i have an attorney or sometimes i think i have one, do you have any advise, and can they make me sign those.
You are very much on to the point and no one can force you to sign the deed. So take all the measures before signing and thats good decision to wait until you receive the money.
Posted: Thu Jun 15, 2006 9:35 am Post subject: quickclaim deed
thank you for your response, she has already ruined my credit she had a volvo she took back and did not pay for my score went from a 800 to 560, im stuck with all the credit card debts that total to about $14,000, i cant get a loan to consoladate the cards and interest is killing me . and since my credit is messed up what can i do, i looked into consolidating thru a company that wanted around $720.00 a month is there any other options besides bankruptcy. my e-mail is "rpittman@hhcs.org" if you have any information that you could send.
jameshogg
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