Posted on: 28th Jul, 2009 07:39 am
is interspousal transfer deed more appropriate that quit claim deed? we live in california?...hello i live in california and unfortunately am facing a divorce after 28 yrs of marriage. my husband is willing to sign a quit claim deed to me for our home. would it be better to have him sign the interspousal transfer deed? by signing either form, will he lose all interest in the property and not be able to take out any loans or have any creditors place lien on my home in the future should he default on other credit related obligations. (he's experiencing a major midlife crisis and i want to make sure i'm doing this right the first time.) also will he be able to make any changes to the mortgage or take out other mortgages after signing either one of these forms?
in case of divorce & Community State, Interspousal Transfer Deed is a better option. As it is a confirmation that your husband will not have any ownership right on the propertyy & he is giving all existing rights on the mentioned property to you.
Similar situation for me (live in CA, divorcing). Difference is that the property my spouse needs to "quit" from is in another state, not a community property state. Is interspousal transfer still preferred and why is it preferred? Also, any fees other than recording fees? Does the lender typically charge any fee?
If there is a mortage then quit claim deed will not stop the lenders from taking over the house even after your husbdna sings the quit claim deed
But once he sings the quit claim deed he do nto ahve any ownership in the property
Make sure to notarize it and record it in the county office
But once he sings the quit claim deed he do nto ahve any ownership in the property
Make sure to notarize it and record it in the county office