Quit claim deed vs. mortgage?

mramstedt · Joined: 09 Oct 2007 Posts: 2 1.96 Dollars($)

Hi there. I bought a house with my ex-spouse in 2005 and the mortgage is under my name. Later things did not work out and I moved out in 2006. After this she pressured me to sign a quit claim deed, but this was never recorded and I assumed I got the original and no copies were ever made. Now her lawyer says they have the quit claim deed. My question is: can I sign a quit claim deed without letting the mortgage company know? I mean that now they don't have any collateral to secure the loan anymore. How can this be possible?

livinginnky · Posted: Tue Oct 09, 2007 4:52 pm Post subject:

It is probably not possible. Get an attorney.

Depending on your mortgage you may not be allowed to sign your rights away. Sometimes they put in a clause that if you change the ownership of the property the mortgage is due immediately. This may not be a good thing as they could force the sale of the house by calling your mortgage due (unless you have the money to pay them).

If you have the original then they would have to have a fake. Correct? Unless you did it through an attorney or title company they probably recorded it for you.

What do you mean pressured you? She got you to quit claim deed the property to her?

Guest 0.10 Dollars($)

Hi,
As you have said that you were signed on a quitclaim deed by your ex-spouse without informing the informing the mortgage company and it was not recorded also; it would not be a valid quitclaim. So if you can prove it, you can get back your property also. But to do so, you need to consult with an attorney.

mramstedt · Joined: 09 Oct 2007 Posts: 2 1.96 Dollars($)

I wish to sell the house immediately, should I call the mortgage company to find out?

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.77 Dollars($)

Hello,

I think it's not possible for you to sell the house anymore if the quit claim has been recorded. Then the ownership has already passed on to your ex-spouse.

If it's not yet recorded, you can try to convince your ex-spouse about a reverse quit claim. But I don't think that will be easy if she has already pressurized you before for the quit claim.

If you call the mortgage company now, they will first inquire about the quit claim without their notice and you will fall into trouble.

You should consult an attorney for further advice.

livinginnky · Posted: Wed Oct 10, 2007 9:12 am Post subject:

You should contact an attorney. As I stated before if you contact the lender AND you have broke your agreement with them, they could force the sale. It will be to their(the banks) benefit. It would probably be better to do it without them but you should consult an attorney in your area for the best advice.

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