Home arrow Mortgage Forums arrow Deeds, Property Transfer and Estate Planning arrow

Ex. Filing has filed bankruptcy again.

Author Message
TeacherB

Guest







Post Posted: Fri Jun 03, 2011 12:47 pm    Post subject: Ex. Filing has filed bankruptcy again.
Like 0
Dislike 0

Question Hello. My ex-wife has filed a Chapter 13. She still lives in the home we shared. Via a court order, I quit claim deeded my interest in the home to her. How will this effect me. I mean will I be removed from liability for the home with this action?
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 10477
Location: Nevada
990.06 Dollars($)
Post Posted: Fri Jun 03, 2011 8:24 pm    Post subject:
Like 0
Dislike 0

Hi TeacherB,

You won't be liable for the home if you've signed the quitclaim deed in your wife's favor. But if your name is mentioned on the mortgage, then you will be liable for it though your name is not on the property deed. After your ex-wife gets a discharge from the debt, the lender will come after you in order to recover the debts.

Thanks
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Refinance Quotes
Call for Rates
888-485-7561
Speak to a lender now.

We will match calls to our toll free number with our network of lenders.

Ask Questions
Community Attorney
Joshua Heard - Attorney Joshua Heard
Houston, Texas






Highlights

Helpful References

Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Our Community

MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards

Five simple ways to earn money with the Mortgage Community.

New and upcoming tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool







We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 0.066 seconds.