Posted: Tue Jul 17, 2007 8:30 pm Post subject: Quick Claim Deed from Divorce
In the state of Michigan, Oakland County, I received a Judgment of Divorce. For the division of Property, the Marital Home section is described with...
"The Plaintiff shall have exclusive possession of the marital home located at.... for a period of five (5) years from the date of the Judgment of Divorce."
Judgment of Divorce is April 15, 2003.
"The Defendant (me) shall retain an $xxx.xx lien on the property to be paid at the statutory interest rate. The Defendant will receive his monetary share if the home is sold or in 5 years, whichever occurs first."
Now for the legal part I have questions on...
"Upon receipt of the Defendant's monetary award the Defendant will execute a quit claim Deed conveying his rights, title claim and interest in the marital property to the Plaintiff."
When the divorce was created, it was assumed that my ex would sell the home and this would give her time to do so. Since then, she has been continuously late on payments and the mortgage company as threatened foreclosure on several occasions.
The ex has been unsuccessful in selling the house, though I hear she has received some offers.
Now, I find out she is to be remarried and plans on staying in the house. If this is true, I will have to execute a Quit Claim Deed to get my monetary share, but she will have all interest in the home. Plus I will still be on the mortgage.
Is this true and if so, what can I do to get my monetary share and get my name off the mortgage?
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Posted: Tue Jul 17, 2007 8:54 pm Post subject: RE: How to get monetary share if property isn't sold
Welcome Stefan.
I understand your problem but you need to talk to the plaintiff and come to a settlement as far paying off the mortgage and selling the home is concerned.
If the plaintiff is willing to stay in the property, then as per the divorce agreement, you cannot claim the sale proceeds till the end of 5 years. But I guess you need the money and there's the loan payment also. Now, if you want to take your name off the loan, you'll have to request the plaintiff to do a refinance in her name so that she takes over the responsibility of paying off the loan.
As far as getting your monetary share after divorce is concerned, I doubt whether you will be able to ask for it right at the moment. And, I don't think legally it is possible to get your share of money because the divorce papers itself says that you'll receive the share only if the house is sold (which in this case is not happening actually) or after 5 years, whichever is less.
Posted: Tue Jul 17, 2007 9:15 pm Post subject: RE: Quick Claim Deed from Divorce
Thank you for your quick response.
The divorce was offical in April 2003. The five year period will be up next spring in 2008.
I've waited this long for the money, so waiting until next spring is not the issue.
The issue is the possibility that she will be able to gain possession of the home and live in it for the next 20 some years and yet my name will be on the mortgage. Meanwhile, she and her new husband will live in the home while my name is on the mortgage. I will be restricted in gaining any mortgage for myself because my name is on this mortgage.
Is this correct? Does this seem fair? Is there anything I can legally do?
Posted: Tue Jul 17, 2007 9:32 pm Post subject: RE: legal action to take name off loan
Your understanding seems to absolutely correct Jvstefan. Well, it's good that the 5 year period will be up by next spring. I understand that you will be the one moving on with the loan. But there isn't any option out except if your ex refinances and puts her name on the loan or else if you talk to the lender and request for a transfer of the loan by novation. But for this, you need to get the agreement of your ex that she would pay off the remaining balance.
Posted: Thu Jul 26, 2007 7:13 am Post subject: Divorce decree and quit claims deed
Divorce papers drawn up in Cass County, Missouri and in the seperation agreement I was awarded the house but it must be on thw market to be sold and profits split, with ex to pay half of the taxes and upkeep until house was sold (this has not happened for two years. The divorce decree states I have sole possession of the home and then several paragraph later states the home being the marital home must be sold, with ex paying half of taxes and upkeep. Several months after the divorce was final my ex wanted to purchase a house with his fiance and signed a quit claims deed. He is now still demanding the house be on the market and sold or I pay him $5,000. There is no equity in the home as we refinance right before the divorce to clear all credit debt. No one can seem to tell me if the quit claims deed releases him of all right, profit and /or debt of this house. I can't refinance because he has had a repossession on the marital vehicle he was awarded in divorce. Help - he has ruined my credit and does not pay anything. It seems he does not have to follow any of the legal papers he has signed and he destroys my credit and then still wants the house sold and half the profit. He could not purchase the new house without the quit claims deed, so he went to the court house and filed one. This seem to work for him because he got the new home. Where does this leave me?
If you have taken proper steps to get the house sold and even then a buyer cannot be found then it is not your fault. The divorce judgment does not mention anything about the time within which the house must be sold. So your ex cannot force you with anything.
You are not required to pay him any money just because he demands it($5000). Legally he has no rights to demand any money from you. He will only get a share from the profit after the house gets sold.
I'm not sure as to whether it really matters if one files divorce before or after retirement. But there may be legal implications which I feel you should better discuss with an attorney.
helping_user
