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I am divorced after 20 years of marriage..we bought a house seven years ago and my ex is living in it and wants to keep it..I signed a quitclaim deed for it..does that alone release me from any financial obligation for the house? Is there anything else that needs to be done so I am no longer liable for it?

gmakerley · Posted: Sun Jul 10, 2011 6:57 pm Post subject:

Cheribaby, if you signed the original mortgage note, then you are liable for payments regardless of your relinquishing your ownership interest. Your former spouse would need to obtain a new loan, paying the old one in full, in order to release you from any liability.

jameshogg · Posted: Sun Jul 10, 2011 9:20 pm Post subject:

Hi Cheribabyv,

If you had a mortgage on your property, then you should ask your husband to refinance the mortgage in his name. This will release you from the financial liability toward the property.

Thanks

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