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JKKT6
Guest
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 Posted: Sat Jul 29, 2006 5:10 pm Post subject: QUIT CLAIM DEED |
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My ex spouse and I own a house with no mortgage. I want to settle and have my ex spouse sign a quick claim deed. Now I found out that he has a federal tax lien on the house. He owes IRS money from after we were separated 2002 and divorced. We did not file jointly when we were seperated. What happens now..I can not get a mortgage without a clear title.
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mac_7
Guest
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| Posted: Sat Jul 29, 2006 6:57 pm Post subject: RE |
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Yes, its true, your ex spouse should clear those charges.
Though the quit claim deed does not transfer the debt or loan or any kind of tax. Still its better to clear those tax lien before taking the property. |
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 Caron
Moderator
Joined: 19 Jul 2005
Posts: 1562
Location: florida
266.58 Dollars($)
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| Posted: Sat Jul 29, 2006 9:44 pm Post subject: RE: Mortgage with clear title |
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Hi,
Your ex-spouse has to clear the title to the property by paying what he owes to the IRS. The tax lien will then be removed. Without getting rid of it, you cannot get a clear title and hence no mortgage.
Thanks,
Caron. |
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larryt
Joined: 27 Jun 2006
Posts: 7
Location: 21 w. Elm st. Chicago IL. 60610
0.94 Dollars($)
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| Posted: Wed Aug 02, 2006 11:16 am Post subject: Hi, |
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A few questions,
1) are you taking out a loan to pay off your ex-husband(for his share of the equity)
2) What is the value of the home, the lien, and if you are paying your ex for the shared equity, how much are you giving him?
The reason that I am asking these questions is because you can get a mortgage on the property as long as the lien is paid out of the proceeds. this means that, hypothetically you can get a loan that will pay your ex for the quick claim deed as long as a portion of the money that is coming from the mortgage goes to pay off the tax lien.
I hope that this helps, if you have any questions please don't hesitate to ask or call.
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Best Regards,
Larry “T.”
Sr. Mortgage Broker
www.Elitefinancial.com, LLC
Bus: 312.254.0404 Ext: 169
www.elitefinancial.com |
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