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Arlene Parsons
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 Posted: Wed Aug 15, 2007 5:45 pm Post subject: Do I have community property rights after signing quitclaim? |
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My husband is a building contractor and built our home, on completion of the home he financed the home in his name only, and said I had to sign a Quit Claim Deed because my name was not on the mortgage. In a community property state, in case of divorce, would I still get half of this property?
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 Niicss
Joined: 03 Oct 2005
Posts: 2620
Location: New Jersey
409.63 Dollars($)
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| Posted: Wed Aug 15, 2007 5:55 pm Post subject: |
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Hi Arlene,
It seems you have asked the same questions over here also. Some other community members have replied to it. Please go through this following page to know about the replies they have given: http://www.mortgagefit.com/discuss/interspousal-transferdeed-3.html
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Good is the Enemy of Great. |
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buck mcKeon
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| Posted: Wed Aug 15, 2007 6:27 pm Post subject: |
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| Quote: | | My husband is a building contractor and built our home, on completion of the home he financed the home in his name only, and said I had to sign a Quit Claim Deed because my name was not on the mortgage. In a community property state, in case of divorce, would I still get half of this property? |
If your funds are also used in paying for the monthly mortgage dues and for the upkeep and maintenance of home then you will be getting a share out of the home at the time of divorce. |
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larry
Joined: 27 Jun 2007
Posts: 3328
474.49 Dollars($)
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| Posted: Wed Aug 15, 2007 8:40 pm Post subject: |
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Hi Arlene,
Community property is such a property which remains undivided until the divorce proceedings are started. After the divorce, you won't be able to claim any share out of the property even if you are in the community property state.
Only if your name is in the mortgage, you can have an access to the property after the divorce. Otherwise you cannot hope to get it. |
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Husband of Arlene
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| Posted: Mon Aug 27, 2007 6:24 am Post subject: Quit claim deed |
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| what you are missing were you married to your husband when he bought the house he sold to buy the land if not than you are out of luck |
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evolovik26
Community Experts
Joined: 15 Aug 2007
Posts: 538
Location: Minneapolis
28.93 Dollars($)
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| Posted: Mon Aug 27, 2007 9:23 am Post subject: |
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The way you phrased your question seems that your husband financed the property and had you sighn the quit claim deed because your name was not on the mortgage. Now this may mean that he added you to the title or have removed you from the title. If he added you to the title its good cause he has given you the right to the property without the responcibility. If he removed you from the property technically you sighned a document that absolves you from any ownership rights to the property. However if it should come to divorse ( i hope it wont ) your lawyer might be able to do something about it based on how long you guys have been together and whether or not you were married at the time of the home purchase.
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Eugene Volovik
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miller_st
Joined: 17 Jan 2007
Posts: 917
168.92 Dollars($)
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| Posted: Mon Aug 27, 2007 12:09 pm Post subject: |
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| Quote: | | In a community property state, in case of divorce, would I still get half of this property? |
Which state are you in? First you will have to see whether you live in community property state or not. But if you do, then you can have rights over the house even if you are not on the title.
In such situation you share in the house is decided based on your contributions towards house payments. The rule by which share of each spouse is calculated is known as the moore marsden rule ( http://www.mortgagefit.com/know-how/mooremarsdenrule.html ).
Miller |
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