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kdmutch · Joined: 03 Jul 2010 Posts: 1 1.32 Dollars($)

Texas is a community property state. The loan for the house is in her name only and was done prior to us getting married. We purchased the house after we were married. She has moved out now and wants to get a loan on another house which she can't do untill I assume this loan.

jameshogg · Posted: Mon Jul 05, 2010 10:55 pm Post subject:

Hi kdmutch,

Your spouse can either sign a quit claim deed or an inter-spousal transfer deed in order to transfer the property solely in your name. Then you can either assume the loan or refinance the mortgage after the property transfer is over.

Thanks

Guest

thanks for the info

Guest

Signing the quit claim deed, even prior to the divorce, does not necessarily mean your complete assumption of the loan. In the first place, a quit claim deed transfers only the granter’s share of interest in the property to the grantee, without warranting the rights. This means, the deed can only transfer the interest but not the liability. The release of such a liability will involve the lender’s approval as well.

Furthermore, if your wife does sign the quit claim deed in your name, lawfully she is still responsible/answerable to any legal hassles regarding the loan which was originally sanctioned in her name. Also, even if you do accept the deed, you can still legally ask for any kind of compensation from her in future.

It is only the warranty deed that transfers the power.

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I live in texas, Wife and I are going thru a divorce and before the divorce is finalmshe wants me to assume the loan on the house. If she signs a quick claim deed prior to the divorce does that transfer all her rights to me in the state of Texas?

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