My wife and I are separated for 10 months. We are living in separate residences and married in California. I have title to my own residence after a previous divorce. My current wife and I lived in this house for 6 years. (It was bought in 1978.)
I would like to [url=http://www.mortgagefit.com/refinance.html]refinance[/url], but am told that my wife must sign a [url=http://www.mortgagefit.com/quitclaim-deed.html]Quit Claim Deed[/url]. She is very concerned that by doing so, she is giving up any rights to any share of the house based on our marriage if there should be a divorce. (Right now because of the housing crash, the house is actually worth less than when we married.)
I spoke with a lawyer who said that a Quit Claim Deed does not reduce community property rights during a divorce, but on reading various forum posts, I'm very confused about this point.
My wife went to legal service and they told her not to sign the Quit Claim Deed thus making it impossible for me to get refinanced. Needless to say this is causing us both a lot of grief, since up to this point our separation has been going smoothly with the intention of coming back together in marriage.
Can you help me out with this issue?