Should I sign a quit claim deed as long as I am on the mortgage loan?

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Icon Mini Profile topgunmoving





Joined: 21 Apr 2009

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Post Posted: Tue Apr 21, 2009 2:38 pm    Post subject: Should I sign a quit claim deed as long as I am on the mortg
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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?
Icon Mini Profile jenkin7
jenkin7




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Post Posted: Tue Apr 21, 2009 11:32 pm    Post subject:
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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.
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