Posted on: 21st Apr, 2009 02:38 pm
i am in a divorce our home has no equity, my soon to be exhusband just asked me to sign a quit claim deed, what are the disadvantages or advantages in signing this?
Hi topgunmoving,
If you sign the quitclaim deed, you will relinquish all your rights to it. Thus, if the house is sold in future, you cannot claim your interest in it. If you are on the mortgage loan, you will be held responsible for it, although you will not have the property in your name after signing on the deed.
If you sign the quitclaim deed, you will relinquish all your rights to it. Thus, if the house is sold in future, you cannot claim your interest in it. If you are on the mortgage loan, you will be held responsible for it, although you will not have the property in your name after signing on the deed.