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cucino04 · Joined: 27 Jun 2008 Posts: 2 1.95 Dollars($)

My ex has added our 3 adult children to the QCD. What does this mean in terms of my ownership of the house? Are the children responsible in any way for the debt?

brian1 · Posted: Fri Jun 27, 2008 6:16 pm Post subject:

Are you on the deed? If so how did the spouse do that without you?
It totally depend on how they are vested on the deed as far as how the ownership rights play out. If they are NOT on the mortgage they have zero financial responsibility.

Brian

Niicss · Posted: Sat Jun 28, 2008 1:24 am Post subject:

Welcome cucino.

Your ex may have quitclaimed his share of the property but have the children refinanced the mortgage on their name. Quitclaim deed doesn't transfer the mortgage.

Who is on the mortgage? You should consult it with the mortgage company.

Let me know if you have any more queries.

Guest

Thanx for the welcome.

My children are not listed on the original deed nor on the mortgage. I had to refinance to remove my ex's name from the mortgage debt. In order to do so he agreed to furnish a QCD. My bank is now telling me if I go ahead with this deed, my children and their future spouses will have an interest if I decide to sell in the future.

Is this legal for him to add the names when the names weren't on the original?

Thanks in advance for all your assistance.

smaildaytoday · Joined: 15 Oct 2007 Posts: 52 0.00 Dollars($)

If you ex own the house with you, the quit cliam deed means that the three adult children also own the part of house. All the children are responsible for the debt of house.

jameshogg

Hi Cucino,

It is legal to add names on the deed even though the original deed didn't have such names. What matters is whether you follow the legal steps to do it. And, if all names are added on the deed, then those added should be given a part of the sale proceeds, as they are now the legal owners along with you.

Moreover, the children do not have their names on the loan. So, legally they are not responsible for any such debt expect. However, if there is a mortgage on the home and you are not able to pay it off, then to save the home, your children may need to make payments. So, it's not an obligation for them until the situation demands the house to be taken away by the lender in case you default on the mortgage.

Thanks

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