Is quick claim a way to remove co-borrower from title?

sara · Posted: Sat Sep 09, 2006 9:27 am Post subject: RE: Add wife to house deed

Hi Jon,

I guess you are asking about how to add your wife's name to the deed. Well, you can do that using a quit claim deed which is quite common. But if you want to make sure that no other person claims any share of interest in the property in future, it is better to sign a warranty deed or title deed.

Know how quit claim and warranty deeds are executed.

Thanks,

Sara.

Guest 0.10 Dollars($)

I own my home ,everything is free and clear and I have made out my will do I need to do a quit claim deed and give to my beneficiary?

colin · Posted: Fri Sep 15, 2006 2:08 pm Post subject:

Hi,

If you have made your will then the home will be divided as per the instructions you have given in the will.

There is no need for quit claiming it. But if you want to transfer it right now to your beneficiaries, then you can do a quit claim.

Thanks
Colin

Caron

Hi,

I don't think a quit claim is required here. You can use a beneficiary deed to transfer ownership rights of the property to the beneficiary. You will have to complete the deed before your death.

This deed will allow you to designate a beneficiary for your assets and help to transfer your property directly to the beneficiary upon your death. After signing the deed, you will still be legally allowed to stay in the property and refinance it if required. You can do anything you want with the property until the time of your death without even asking the beneficiary.

The legal aspects of beneficiary deed vary from state to state. So I shall suggest that you consult an attorney regarding how beneficiary deeds are executed in your state.

Thanks,

Caron.

Guest 0.10 Dollars($)

my husband and i are in the process of divorcing...the house and property are in my name, not his...i told him i would sign a quick claim deed to give him the property...i don't want it...but i have put alot of money into this house and i'm not sure i'm doing the right thing, just giving it to him...what is your opinion. i would like an answer before i sign any papers.

Guest 0.10 Dollars($)

Hi Teresa,

In a divorce case all property will be divided by court in such a way which should be fair and just for both of you.

The judge will use his own discretion to decide what will be proper division of the property and other assets. In my opinion you should not just quit claim all your property in your husband's name and let the court decide.

jameshogg · Posted: Wed Sep 20, 2006 5:28 pm Post subject:

Hi Teresa,

As you are saying that you have put a lot of investment into the property, it will not be a wise decision to just give the property to your husband.

Also as the property is in your name and if you have received it as a gift or as inheritance or owned it before your marriage, it will not fall under community property (community property is which you acquire during the time you are married) and the court may decide that it will not be divided between you and your husband and you will be allowed to keep it with you.

Thanks
James

Caron

Hi Teresa,

Welcome to the forums.

If I would have been in your situation, I would not let the money go away. I would rather keep the house with me, and offer it for rent if at all I don't stay there. This way I can get back a certain amount of the money that I have invested in my home.

But I would like to ask one thing: has your husband asked for the property or you are transferring it at your own will? If he hasn't asked for it, I don't think it will be wise for you to hand over the property to him.

You can keep the property, as it's an asset. And, may be in future you can use it to avoid some big financial trouble. Also, you need to wait and watch out for what the court has to say about the property division on the divorce decree. First, know about the court judgment and then proceed further.

Thanks,

Caron.

Guest 0.10 Dollars($)

If there are 4 owners of property, can one person file a quick claim deed without the others knowledge and become the sole owner.
Thank you, Phyllis

Guest 0.10 Dollars($)

Hi Phyllis,

Actually quit claim deed is made by a person to transfer his interest in the property in another person's name.

So, one person can not do such a thing, as the quit needs to mention that one person has given his interest to another person and both have to sign the deed also.

Thanks
Lance

Guest 0.10 Dollars($)

There are states in which only the grantor needs to sign on the quit claim deed. No signature of the grantee is required in such states. You can find out if your state at all requires the signatures of the grantees and then do the quit claim. But I still doubt if it is legally right.

Samantha

Hi Phyllis,

The deed cannot be filed without the knowledge of the others. The deed should be signed in the presence of notary public and then recorded at the Register of deeds. Without the signatures of others, you cannot file the deed as it is illegal and the notary and attorney (who prepares the deed) will not perhaps agree to it.

It is always better to follow the law. Hence I would advise that you let others know about it.

God bless you

Samantha.

Guest 0.10 Dollars($)

Helo, my ex-husband is living in the house the we both owned. I am now remarried and we are trying to buy a new home, but when our credits are pulled it is still showing me still on my ex's house. If I sign a quit claim deed will this get me off financially and free from that house?

Caron

Hi Guest,

The reply to a similar query is provided in our previous discussion. Just go through http://www.mortgagefit.com/know-how/transferloan.html . Also let us know if you have further queries. We shall be glad to help you.

Thanks,

Caron.

Guest 0.10 Dollars($)

Hi, I own a house with my mother as the Co-Borrower. She is starting to go senile and I may have to put her in a home since I need to work and won't be able to stay at home with her. I've been told to get a QuitClaim so that I won't lose the house.

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