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Posted: Thu Jan 27, 2011 10:36 am Post subject: quit claim deed for refinancing?

Joshua,
before we got married my wife bought a house with her parents. After we got married her family wanted her to refinance the house. I was pressured to sign a quit claim deed as it will lower our monthly payments. Is there a way to reverse the quit claim deed? the house is under both her parents name and my wife's name. In the perfect world this shouldn't matter, but if we were to break up I have no claim to the house although my wife and I are paying off the house together. I feel like I am putting our money into something that can potentially only be hers.
Can a quit claim deed be reversed? and if so, how will it affect the refinancing? Was a quit claim deed necessary for refinancing in my situation?

-T.K

jameshogg · Posted: Thu Jan 27, 2011 7:47 pm Post subject:

Hi Guest,

You have mentioned that you were pressured to sign the quitclaim deed. Was your name added to the property deed through quitclaim? Unless your name is on the property deed, you won't be able to refinance the mortgage in your name. In such situation, I will suggest you to check the property deed to find out if your name is mentioned on the property deed. If your name is on the deed, it means you're one of the owners of the property. If you break up in the future, you'll still have the rights to the property and claim half of it from your wife.

Thanks

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quit claim deed for refinancing?

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