Can quit claim remove name from title?

Jessica

No, not at all, don't end up your savings simply by helping your husband, because he's not making a misuse of your money actually and he's not bothered.

What you need to do here is:

Talk to your husband and explain him clearly that you don't want to finish off with your savings.

First of all, ask him to remove his deceased wife's name from the title – that can be done by filing an affidavit of heirship by which he'll own the property entirely, then he can transfer a certain portion, say half of it to you so that both of your names will be on the title.

You speak of credit issues, well how bad is your credit? Let me know, it will be better for me to suggest options which you can go for.

If you have a decent payment history with a 600 score, I think you can refinance but yes, rates can be a bit higher. But there's no way out. If you help your husband, you have do it this way or else, you go on depleting your savings for one who doesn't realize your contribution and in the end you lose what you'd kept aside for years!

Regards,

Jessica

Guest 0.10 Dollars($)

Do NOT sign the quitclaim deed!! Get a lawyer or consult one. You are entitled to a share in the condo but if you sign a quitclaim deed you relinquish all claims. Since you were married for 8 years chances are you are entitled to 1/2 of the equity in the condo or more. This will be determined in the marital settlement when you get divorced.
If you can not afford a lawyer go to the court house and file for divorce. The clerks will help you fill our the paperwork. It only cost $225.00 in MA to file. Then you can talk to the lawyer of the day for free for advice.

lisascherzer · Joined: 04 Jan 2008 Posts: 599 69.58 Dollars($)

I would not sign the quit claim deed until you have negotiated a settlement that work for you. Basically, he would need to give you some of the equity in the property and then you would sign off. If you can't agree I would finally get a divorce and then the courts will decide how the property will be split and how much of a settlement you are to recieve on it. Hopefully you can work something out with him before having to go through the divorce.

Guest 0.10 Dollars($)

my fiance and i bought a house together, then she refinance under her name and now she lost her job and is gonna foreclose, we are getting letters from law office with both names on it. am i still legally responsible for the mortgage? and how can i not be involved with the foreclosure?

larry · Joined: 27 Jun 2007 Posts: 3321 472.39 Dollars($)

Hi Tony,

Welcome to the forum.

Are you still on the deed of the property and also on the mortgage? It may be that you are not on the mortgage as your fiancé has refinanced the mortgage in her name but you are still on the deed of the property. That is why you got the letter as the property is going to be foreclosed.

Thanks.
Larry

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My wife and I are in the final stages of divorce. Our mortgage is in MY name only and the deed is in both our names. She has requested a quit claim deed, supposedly, so she can refinance. She currently lives in the house. She hasn't paid the mortgage for 8 months now and the bank is threatening foreclosure. If I sign a quit claim deed, will she NOT have to pay the 8 months of back payments and go on to live in the house and I be left with the mortgage, or does the title show the past due payments and she can refinance the house, while I'm left holding the other mortgage?

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.77 Dollars($)

Hello Lavell,

A quit claim deed will not release you from the financial liabilities. It will only remove your name from the title.

If your name is on the mortgage then legally you are responsible to make the payments. Was there any written agreement between you and your wife that she is going to make the mortgage payments on your behalf?

If the payments have not been made for the past 8 months then the bank might come any time to foreclose on your property and this will affect your credit seriously.

You should talk to the bank as early as possible. The bank might call the entire loan amount due immediately if you sign a quit claim deed without informing them.

Guest 0.10 Dollars($)

I have been divorce for 7 years, but the house was not discussed in the divorce. My ex stated that I signed a quitclaim deed, which I was un aware of. He stated to me that he wanted to refinance so his payments could be lower, so i signed because I trusted him. I was unaware that I was signing over my interest in the property to him. we live in Maryland and the quitclaim was not filed or recorded. Does this mean my names is taken off everything including the title deed and the home owners insurance? What can I do?

Jessica · Posted: Tue Feb 26, 2008 12:24 am Post subject: RE: filed quitclaim unknowingly

Hi Bee Bee,

Welcome to our community forums.

It seems that you have signed in the quitclaim deed unknowingly. You should have read through the deed. But if the deed has not been recorded, you still have a fair chance of getting back the property in your name. If you can take a legal action against your ex-spouse and prove that he has deceived you into filing the deed, then it might be possible to get back the ownership rights.

However, when you get back the rights, you may have to refinance the loan again in your name. Think about all aspects and then decide if at all you want the property back.

Regards,

Jessica

Guest 0.10 Dollars($)

When my husband and I bought our house we could not qualify for the loan on our own, so my father became a co-borrower. We have now paid off the mortgage and would like to remove my father's name from the title. Is a quit claim deed the way to go?

larry · Joined: 27 Jun 2007 Posts: 3321 472.39 Dollars($)

Hi Joally,

Welcome to the forum.

You should request your father to sign a quitclaim deed to you to transfer the property to you. You will have to notarized the deed and record it in the county recorder office.

Feel free to ask if you have any further questions.

Best of luck,
Larry

Guest 0.10 Dollars($)

Thanks so much, Larry. Would this be considered a transfer of property? I'm confused, because our names are already on it, so it's not really a transfer, is it? The reason I ask is because if it is a transfer, we have to fill out a "Preliminary Change of Ownership" form, which seems to imply there will be taxes to pay or something. Can you clarify? TIA!

Samantha · Posted: Thu Feb 28, 2008 2:45 am Post subject: RE: tax consequences of quitclaim

Hi Joally,

It will be a transfer of interest in property from your father to you and your husband. And, depending upon certain conditions there may be gift taxes involved.

Please go through http://www.mortgagefit.com/discuss/quitclaim-taximplications.html#3127 and http://www.mortgagefit.com/gift.html#exemption to know more about tax consequences of quitclaim.

Hope this helps...

God bless you.

Samantha

Guest 0.10 Dollars($)

How do I take my 3 sons names off my quit claim deed on my house?

jameshogg · Posted: Thu Apr 03, 2008 11:34 pm Post subject: RE:

Hi Sue,

I've already given my suggestion at http://www.mortgagefit.com/warranty-deed-5.html#48446 . Please have a look at it.

Thanks

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