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Which is better - Interspousal Transfer or Quit Claim Deed?

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Tina Marie

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PostPosted: Mon Mar 03, 2008 11:45 pm    Post subject: Quit Claim Deed

I recently got married. My husband purchased property previous to our marriage. He is now requesting that I quit claim his properties and the documents claim that I "forever" release myself from these properties. He states that he will not be able to make any type of transactions without my signature. What does this all mean? It is to my inderstanding that he now needs my signature on his properties since we are now married.
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Mini Profile  Caron
Caron
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PostPosted: Tue Mar 04, 2008 2:46 am    Post subject: RE: spouse quitclaim interest

Hi Tina,

Welcome to our forums.

If your husband states that he will not be able to do any transaction without your signature then I don't understand why he's asking you to release your interest in property.

For any property related transaction, your signature will be needed only if you are on the title. But what your husband is saying and what he's asking you to do is totally contradictory. By the way, do you stay in a community property? what is the name of your state? and moreover, is your name on the title?

In case of community property, spouse does not have interest in property which is acquired before marriage.

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TAM

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PostPosted: Thu Mar 06, 2008 2:32 pm    Post subject: QUIT CLAIM

If you signed a quit claim form, will you have entitlment to your share of intrest in the property if your name is still on the home owners insurance?
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Mini Profile  larry



Joined: 27 Jun 2007
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PostPosted: Thu Mar 06, 2008 2:41 pm    Post subject:

Hi TAM,

Welcome to the forum.

It actually depends on how you structure the deed. If you quitclaim to you and someone else then you will have an interest on that property. That means you are signing the deed as a grantor and the grantee is you and someone else. This is done primarily to add someone in the deed.

But if you quitclaim only to someone else then you will have no interest on that property even if your name is still on the home owners insurance.

Hope it is clear to you.

Feel free to ask if you have any further questions.

Best of luck,
Larry
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fred

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PostPosted: Tue Apr 08, 2008 5:12 pm    Post subject: confused

i'm divorced,and my ex is going to sell the house. but wants me and my present wife to sign a quit claim deed. if i sign this do i give up all right to the property
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Mini Profile  larry



Joined: 27 Jun 2007
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PostPosted: Wed Apr 09, 2008 2:15 am    Post subject:

Hi fred,

Welcome to the forum.

If you quitclaim the property to your ex that means you have transferred the property to your ex.

BTW is it a mortgaged property? If so then ask her to refinance the mortgage on her name only. Otherwise you will still be on the mortgage and after the sale if there is any due on the mortgage you will also be responsible for that.

Feel free to ask if you have any further questions.

Best of luck,
Larry
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