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sara
Joined: 05 Jul 2006
Posts: 1168
Location: New Brunswick, New Jersey
216.67 Dollars($)
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 Posted: Mon Mar 05, 2007 9:28 pm Post subject: RE: add spouse to the property title |
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Hi Susan,
Welcome to the forums.
You can get the title in your name at the time of refinancing your current loan. You should inform the lender that you wish to have your name on the title at the time of settlement of the refinance.
You can surely add your husband's name to the title when he restores his credit. And, a quitclaim deed will be a good choice to add him as the co-owner.
Thanks,
Sara |
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Caron
Moderator
Joined: 19 Jul 2005
Posts: 1444
Location: florida
242.80 Dollars($)
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| Posted: Mon Mar 05, 2007 9:48 pm Post subject: RE: using interspousal transfer deed |
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Hi Susan,
In many states, one can give up his interest in property to his spouse by the use of interspousal deed. The transferor may have to inform the mortgage company prior to the conveyance of property-interest.
When a person signs on the interspousal deed, according to the laws, he will be transferring community property into separate property. In other words, when you sign the deed, whatever interest you and your husband had, became entirely yours. So, your husband will have no interest in the property and cannot get the benefits of the current property value.
Thanks,
Caron.
_________________
Mortgage Shopping made easy with booklet |
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perplexed
Guest
0.10 Dollars($)
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| Posted: Wed Mar 07, 2007 10:26 am Post subject: what about a quit claim deed? |
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Hi,
Thank you for the previous response.
Now, my husband is telling me that he asked me to sign the wrong document. Instead of the interspousal transfer deed, he wants me to sign a quit claims deed.
In terms of divorce. Does signing this deed make the house 100% his separate property too?
Is there a deed that I can ask him to sign that will define my separate property and safeguard it if we get divorced? I don't have a house but personal bank accounts. |
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deuflhard
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0.10 Dollars($)
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| Posted: Wed Mar 07, 2007 11:18 am Post subject: |
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| Quote: | Now, my husband is telling me that he asked me to sign the wrong document. Instead of the interspousal transfer deed, he wants me to sign a quit claims deed.
In terms of divorce. Does signing this deed make the house 100% his separate property too?
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If you use the quit claim deed to transfer your share of interest in the property then it will not make it his separate property. But you share of ownership will get transferred.
This is the difference between use of a quit claim deed and a interspousal transfer deed. By using a interspousal deed it can be mentioned that the transfer is been done to make the property grantee's separate property.
Deuflhard |
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helping_user
Joined: 31 Mar 2006
Posts: 786
Location: Hawaii
146.34 Dollars($)
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| Posted: Wed Mar 07, 2007 11:21 pm Post subject: RE: does quit claim deed make the house separate property? |
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Hi Perplexed,
Your bank accounts will not be affected if you sign a quit claim deed or an interspousal deed. By property, here it means real estate or your home. As you wish to protect your interest in property, it is better that you don't sign on any deed, be it interspousal or quit claim deed.
Thanks. |
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Bob
Guest
0.10 Dollars($)
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| Posted: Thu Mar 08, 2007 10:46 am Post subject: Transfer from single to joint property |
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| now married I want to add my wife to deed. What is best way to do this? |
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Gary Baseman
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0.10 Dollars($)
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| Posted: Thu Mar 08, 2007 10:58 am Post subject: |
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Hi Bob,
A simple means of adding your wife as co-owner for the house will be to use a quit claim deed. It is commonly used in inter-family property transfers.
Gary Baseman |
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helping_user
Joined: 31 Mar 2006
Posts: 786
Location: Hawaii
146.34 Dollars($)
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| Posted: Thu Mar 08, 2007 9:26 pm Post subject: |
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Hi Bob,
If there is no due on your house, then I suggest going with warranty deed instead of quit claim deed. It will provide warranty to her that there is no due on this house and in future she is not liable to make any past dues.
Thanks |
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CA bad choice
Guest
0.10 Dollars($)
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| Posted: Wed Mar 21, 2007 7:51 pm Post subject: divorce |
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| i received some $ from a refi, and signed a quit claim deed. now it looks like divorce on d horizon. can i go back at all? |
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Mac_7
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0.10 Dollars($)
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| Posted: Wed Mar 21, 2007 8:49 pm Post subject: |
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| Do you mean you want that you want to undo the quit claim deed? |
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eener
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0.10 Dollars($)
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| Posted: Mon May 07, 2007 6:51 am Post subject: quick claim deed |
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| I am recently seperated and the house i purchased before marriage, I live in florida. If I sign a quick claim deed to my ex so he can refinance in his name does he still have to buy me out legally of the appreciation valueof the home? |
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blue
Joined: 21 Oct 2005
Posts: 1138
Location: MARYLAND
137.61 Dollars($)
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| Posted: Mon May 07, 2007 4:12 pm Post subject: |
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Hi Eener,
Welcome to Mortgagefit discussion board.
Before quit claiming the house to your ex, you should finalize how much amount out the appreciated value you want to get.
On the other hand if you want to give up the ownership so that ex can refinance then legally your ex is not required to buy out your share of interest in the house.
All depends on you, and whether you want anything out of the value of the house. If you would like to get a share in return for quit claiming the house then until he agrees to pay you do not sign on the deed.
Do let me know if you have any other questions.
Thanks
Blue |
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helping_user
Joined: 31 Mar 2006
Posts: 786
Location: Hawaii
146.34 Dollars($)
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| Posted: Mon May 07, 2007 11:37 pm Post subject: RE: Is it legally necessary to buy out the other spouse? |
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Welcome Eener.
Legally it's not necessary that your ex-husband has to buy you out on getting the ownership rights through quitclaim deed.
You may use a quitclaim deed and take your name off the property-title so that your husband can refinance the loan in his name.
Thanks. |
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HenryM
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0.10 Dollars($)
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| Posted: Sat Jul 07, 2007 4:21 pm Post subject: Interspousal transfer deed |
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My wife is planning to do a divorce. We were married for 9 years. We are in California. When I bought my home with my brother (for investment), my wife
signed this interspousal transfer deed. If this divorce is push through, does she has the right owning 50% of my house. I have taken my brother's name
last year and I'm the sole owner and name on the deed. We have a family trust and the house is on the trust. |
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miller_st
Joined: 17 Jan 2007
Posts: 917
168.82 Dollars($)
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| Posted: Sat Jul 07, 2007 4:31 pm Post subject: |
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Henry as she has signed the interspousal transfer deed to give up her rights over the house it is now your sole property and she is not entitled to get any share from the house.
In a community property state interspousal transfer deed is also used to convert a community property into separate property. Thus now you have sole ownership over the house.
Miller |
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