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mat_junk · Joined: 07 Oct 2009 Posts: 1 1.40 Dollars($)

My ex and I divorced last year and in the divorce decree it states that we will split the equity in the house apon sale. She has been living in the house and paying all bills associated with the house without my help, however I am still on the deed, as the primary. She is asking to refinance the house and wants me to sign a quit claim deed. My question is would the divorce decree still cover me in the event of a sale? Or would the quit claim be the only thing that matters? IE, if she decided to sell the house and not tell me anything, would I have a leg to stand on at all? My understanding is she cannot refinance unless I am on the new loan, or I sign this paper.

Thanks in advance.

manoj_gopale · Joined: 16 Feb 2009 Posts: 488 0.00 Dollars($)

mat_junk

It is better advisable not to sign the quitclaim,An attorney will be able to guide on this matter in a more precise manner.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Probably yes, your divorce decree will protect you, when she sells the house

But to be on the safer side, I would say do nto do it.

There should be a compellign reason for her to ask you to sing the quit claim deed, if there is non, the do not sign it

smithsussane · Posted: Wed Oct 07, 2009 7:45 pm Post subject:

Hi mat_junk!

Welcome to forums!

Unless you sign the quitclaim deed and transfer the property to your ex-wife, she won't be able to refinance the mortgage. As soon as you sign the quitclaim deed in your ex-wife's favor, you won't be the owner of the property anymore. It will be considered as her separate property. However, as your divorce decree states that upon selling, the equity would divided equally amongst both of you, then she would be liable to pay it.

Feel free to ask if you've further queries.

Sussane

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Does divorce decree protect interests in property?