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helping_user
Joined: 31 Mar 2006
Posts: 815
Location: Hawaii
154.76 Dollars($)
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cjksf
Guest
0.10 Dollars($)
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Post subject: quitclaim |
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| My ex wife wants me to sign a quitclaim deed to refinance one of the loans on the house. But in our divorce agreement she owes me $13,000 when she refinances the house. She dais she will do this when she refinances the other, a much larger loan next fall. But if I give up rights on the home she might say that I already gave up all rights on the house. Is there any way to sign the deed over to her so that she can do what she needs to but still keep a legal document that says she has to pay me my money? |
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Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1600
Location: MASSACHUSETTS
149.06 Dollars($)
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Post subject: RE: paying money on refinance as per divorce agreement |
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Hi Guest,
Welcome to the forums.
The divorce agreement itself proves that she should pay you the money. So, in case she does not pay, you can legally claim the amount. Even if she denies, she has to pay it as it is stated on the divorce agreement. No need to prepare a separate document. I hope you have a written form of the divorce agreement. Just keep it safe so that in case you need it, you can use it to bring any kind of legal action against her.
Hope this information will help you.
God bless you.
Samantha
_________________
Know how to compare lenders with mortgage booklet |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Post subject: |
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Why don't you ask her to make the payment that you owe at the time when you sign the quit claim deed.
_________________
Procrastination is the enemy of your financial sucess |
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jacksnapper
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Post subject: to people who brought a new home and no longer together |
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| My girlfriend and I brought a new home,but in the process our relationship as ended.She still wants to buy the home, how can I relinquish my ownership of this home. |
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mac_7
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Post subject: |
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| Sell the home to your girlfriend and then sign over a grant deed to give up your ownership rights on property. |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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Post subject: RE: relinquish interest in property |
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Hi Jack.
Welcome here.
It's fine if yur girlfriend wishes to buy the home. Now when you sell it, depending upon the home value you may have to pay capital gains tax on the profit, if any. But there is an exemption limit also.
When you sell the home, you need to transfer the title in the buyer's name and to do that, you may need a quit claim/grant deed signed over to her.
Thanks,
James. |
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MarthaZ
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Post subject: 88 year old Dad |
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| My dad is 88 years old and living in Florida. He owns the home free and clear. There is a Revocable Living Trust and the home is part of the assets. I am concerned that I may have to sell the home should my dad need living assistance. Does a quit claim deed or warranty deed legally give my ownership rights? |
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carnahandavid
Joined: 21 Dec 2006
Posts: 239
58.41 Dollars($)
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Post subject: |
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Hi Martha,
Instead of quit claim deed your dad should create a warranty deed as it provides clear title to the property to the other person.
While the trust was created if you were named as successor trustee then you have the power to sell the home without the requirement of it being transferred in your name.
David |
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Alex
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Post subject: |
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| But a successor trustee can only sell property when the person owning the trust property is dead or disabled. |
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clueless
Guest
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Post subject: Quit claim deed |
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| My husband's company is going to be in ligtigation over a delinquent balance due. If he quit claims our home to me will that prevent the other company from putting a lien on our home? |
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jeremy
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Post subject: foreclosure |
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| Hi, I have experiences some hard times and have fallen behind on my payments. Currently I'm going through forclosure, and I'm wondering if I do a quit claim deed to my son. Will he be able to gain the title and make the monthly payments on it. Or will he need to have funding avaible once the quit deed cliam is singed and filed ? |
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Jaquith
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Post subject: |
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| Quote: | | My husband's company is going to be in ligtigation over a delinquent balance due. If he quit claims our home to me will that prevent the other company from putting a lien on our home? |
It might be considered as a fraudulent conveyance/transfer to avoid payment to the other company. And if the company files a complaint against it then the court can cancel the transfer to you and allow for a lien to be placed over the home.
Jaquith |
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la
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Post subject: |
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Hi Jeremy,
Sorry to hear about your financial condition.
If your son has stable income and good credit score then the lender would agree to have the mortgage transferred in his name. You should discuss with your lender on whether he will allow it or not.
Loan Advisor |
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helping_user
Joined: 31 Mar 2006
Posts: 815
Location: Hawaii
154.76 Dollars($)
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Post subject: RE: quit claim home to avoid litigation on company |
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Welcome clueless.
Can you tell me whether your property belongs to the company? I mean have your husband signed any legal document which states that your home comes under your company assets? Or has your husband has taken a loan for the business keeping your home included within the collateral property?
If that is so, then the other company can place a lien on your home. Otherwise, if the property isn't listed as company asset, then there cannot be any lien on your home and as such your husband need not quit claim the home.
Thanks. |
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