Quitclaim deed and home equity line of credit

If through the divorce, the husband was granted the property and all loans, and payments, then he is the only one who is allowed to take or uncumber the home. She signed off ownership with the quit claim. I would close the HELOC asap to avoid any more losses. Contact a good Real Estate Attorney if you can afford to. Good luck

Is there anything he can do about the money she already took?

Hi Trish,

Your friend may request his ex-wife to give back the money. But I doubt whether or not she will do so. Nevertheless, as Chris suggested, contacting a real estate attorney will be the best option for your friend now.

Thanks

In 1999 I was made to sign a quick claim deed to a home my husband had prior to marriage so he could obtain a $50K line of credit on the home so we could purchase another home together as husband and wife. When I asked why i was signing a quick claim, he told me it was to prevent me from being financially responsible for the $50K. So I signed it.

My husband died in testate and I am now told that I signed away my rights to this property. I was signing away my rights to be held responsible for payment of his loan, not rights to the house. Now i am told his sister has a considerable claim to his home, even though I have a considerable financial interest in the home for the past 22 years, payed off the remaining $30K mortgage he had with my retirement account etc.

I was told i had to sign in order for him to get this $50K loan by the bank. What can i do now? I would never sign away my rights to the home and then pour all my financial support into it.
any help would be appreciated. Thank you. Donna from CA

Hi Donna,

You should get in touch with a real estate attorney and take his opinion. However, it should also be noted that if you have signed the deed, you won't be able to claim any rights to the property.

Thanks