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Quit Claim Deed after filing Bankruptcy

I filed bankruptcy and it was discharged in December of 2006, included in the bankruptcy was my home that I owned with my husband. I was fully discharged of the financial responsiblity. Now my husband (soon to be ex filed for divorce last month) is selling the house by short sale. The deed is still in my name. I never signed a [url=http://www.mortgagefit.com/quitclaim-deed.html]quit claim deed[/url] and now my husbands realtor wants me to sign it, If i sign over a quit claim deed does that effect the mortgage loan for the house. Is the deed completely separte from the mortgage loan. I think what I am trying to ask is will signing the quit claim deed make me in any way responsible for the mortgage loan that I filed bankruptcy on. Thank you

blue's picture
blue | Joined: October 21, 2005 09:17 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Erin,

Welcome to Mortgagefit discussion board.

I am not clear on few things.

Is the mortgage in your husband's name or both names?

"I think what I am trying to ask is will signing the quit claim deed make me in any way responsible for the mortgage loan that I filed bankruptcy on."

You included mortgage in bankruptcy which means you were on the mortgage. Why your husband is trying to sell the house which is in your name? And you mentioned short sale. Short sale is done when the borrower is not able to make the payments. Is the mortgage in default?

In general what I can say is that by signing the quit claim deed you will lose all your rights over the house but if you are on the mortgage then quit claiming the house will not have any affect on it. You will continue to remain on the mortgage and responsible for making the payments.

Please give some other details so that we can give better advice.

Thanks
Blue

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

The mortgage and the deed is in both of our names. I was discharged of the bankruptcy, which included the house, in December. I haven't signed anything pertaining to the deed. The house is in default and he is trying to do a short sale so the foreclosure doesn't go through. In March I got a letter from the mortgage company showing that I filed bankruptcy and am immune from all personal liability. Now his realtor says that I need to sign for the quit claim deed. I am just worried about signing anything, especially since I filed bankruptcy on it.
Thanks

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miller_st's picture
miller_st | Joined: January 17, 2007 04:47 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

[quote:fb66e08a5d]Now his realtor says that I need to sign for the quit claim deed.[/quote:fb66e08a5d]

As the house is in both names for completing a short sale your signatures will be required. Have you inquired with lender on whether they have allowed a short sale or is it that only your husband is dealing with the lender?

It can be possible that lender has not mentioned anything about short sale and just to get the house your husband is asking you to sign the deed.

Miller

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Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

[quote:1527dad3de]I am just worried about signing anything, especially since I filed bankruptcy on it. [/quote:1527dad3de]

In chapter 13 it is possible that mortgage payments are continued over the original repayment schedule and only the defaults are paid off during the plan. This might be what had occurred in your bankruptcy plan.

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Caron's picture
Caron | Joined: July 19, 2005 08:37 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Well Erin, the quitclaim deed and mortgage are different issues. So, even if do a quitclaim, the responsibility of paying off he mortgage remains with the borrower himself. And, if you have filed bankruptcy and received a discharge from it, then you need not worry about signing any deed. But it's better to read through the legal paperwork before you sign on it. By the way, are you on the loan?

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Erin, I have the same situation. My BK was discharged May 2010. I am no longer responsible for the loan on the house, but my soon to be ex-husband refuses to sign the marital settlement agreement unless I sign the quitclaim deed to the house over to him. Apparently, he can not refi and may want to loan mod or something else. To clarify your question. You are asking "I filed BK on my house, and was discharge through chapter 7, if I sign the quitclaim deed over to my ex-husband am I back on the house loan again?

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adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Lisa,

Quit claim deed has nothing to do with the mortgage or the bankruptcy. You have mentioned that your bankruptcy was discharged. In that case, wasn't your property sold off by the lender to recover his dues?

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

we filed chapter 7 in june 2012 and did not reafirm the mortgage debt. we a still on the deed, and the bank will not take a dded in lieu. can one of us quitcalim the deed to the other spouse so that only one name is on the deed. according to the court, we have no further financial responsibility. also, the HOA will not foreclose either.

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smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Richard!

Welcome to forums!

As the debt has been discharged, you really won't have any financial responsibility toward it. You may quitclaim the property to the other spouse but it will be better if you could take the opinion of a real estate attorney in this regard.

Feel free to ask if you've further queries.

Sussane

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi,
My bankrupsty will be discharged in 60 days. Can I quit claim my property to my ex-husband after discharge. The house was not part of the case, and I am on the deed, but not the mortgage. This is a NJ Bankrupsty.

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jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi tdamjanac,

If the house was not a part of your bankruptcy filing, then you will be able to transfer it to your ex-husband after you get a discharge. However, it is always better to consult an attorney and then take the final decision.

Thanks

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