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 manelson
Joined: 09 Apr 2007
Posts: 1
1.28 Dollars($)
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 Posted: Mon Apr 09, 2007 12:53 pm Post subject: Did I make a terrible mistake? |
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| Separated for 3 years. Recently discovered that MANY years ago during refinancing, I signed a quit claim since spouse's credit was better than mine. Remember finance co. saying it would make things easier and it didn't matter anyway since Cal. is community prop. state. Who knew happily ever after would end. Am I now SOL? Soon-to-be- ex is not playing hardball...yet. Thanks |
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blue
Joined: 21 Oct 2005
Posts: 1138
Location: MARYLAND
137.64 Dollars($)
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| Posted: Mon Apr 09, 2007 12:59 pm Post subject: |
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Hi Manelson,
Welcome to Mortgagefit discussion board.
As you are living in a community property state (California is a community property state), you are entitiled to get equal share at the time property is sold.
As per California laws, each spouse gets equal share of property if such property was acquired after their marriage.
Thanks
Blue |
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mulder
Guest
0.10 Dollars($)
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| Posted: Mon Apr 09, 2007 3:22 pm Post subject: |
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| Quote: | | during refinancing, I signed a quit claim since spouse's credit was better than mine. Remember finance co. saying it would make things easier and it didn't matter anyway since Cal. is community prop. state. |
If the house was purchased after your marriage then it will be considered community property even if you had quit claimed it in your spouse's name. The divorce court will divide the property equally as you had quit claimed it so that a mortgage can be taken easily and was necessary that time. |
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Caron
Moderator
Joined: 19 Jul 2005
Posts: 1482
Location: florida
250.36 Dollars($)
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| Posted: Tue Apr 10, 2007 1:02 am Post subject: RE: community property quit claim for refinance |
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Hi Manelson,
Welcome to our forums.
I would hate to say this but then that's the way it goes. In case of separation or a defunct marriage, community property laws do not apply in California. Moreover, you have already signed a signed a quit claim deed and I guess the finance company wanted you to give up your interest in property to your spouse having better credit. That has actually transferred the title in your spouse's name.
I am simply assuming these but you can always check this out from what your deed says. And, you can always correct me if I am wrong.
Anyway, if the title to your property has been transferred already, then there's no way you can get it back and even if your spouse quit claims your interest back to you, the community property laws cannot be enforced as there has been separation for 3 years.
The community has earlier discussed a similar topic in another thread. You can just refer to the topic, Separated for 6 years to know more on this issue.
Thanks,
Caron. |
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