Divorce and Quitclaims FAQs

Q: Will a quitclaim deed release me from the mortgage obligation?

A: A quitclaim deed affects only how the property is titled. It has no effect on the debts or loan obligations of both husband and wife. You are still responsible to pay for all the joint debts regardless of the division of property during your divorce.

Q: When do I get my spouse’s name off the deed and mortgage?

A: It is unusual to have both your names both on the deed and yet only your name on the mortgage. This can only mean that you have the sole responsibility of paying the mortgage and yet your spouse co-owns the house with you.

Q: Is my spouse entitled to any equity if he quitclaimed the home to me?

A: Any property that was purchased during marriage is considered community or marital property. This is divided during your divorce. The portion of the property that each of you would get depends upon state law and on other evidence presented to the court regarding your financial situation.

Q: When do I get my spouses’ name off the house deed and mortgage?

A: If both spouses agree to the terms of a divorce settlement, a quitclaim deed is the fastest, easiest and least expensive way to remove your spouse’s name from the deed to the property. If both spouses do not agree on the settlement of assets and debts, then the court will decide on an equitable division.

Q: Would I be entitled to any profits after signing a quitclaim deed?

A: The court has the power to award a property to whomsoever they deem fit. Whoever was awarded this property is the one who can profit from it. If it is not you, then you are required by law to sign a quitclaim deed. You will not get any profits since the property was not awarded to you.

Q: Does my spouse have any say in what I do with the profits if I got the home?

A: As long as the court awards you your home, your spouse has no say or claim on what you do with the property.

Q: Can a quitclaim deed keep me from losing my home if my spouse is sued?

A: Yes, a quitclaim deed can protect you by getting the deed in your own name exclusively. This is possible through a divorce proceeding or your spouse can sign a quitclaim to relinquish his rights to the property. If the mortgage is in your spouse’s name, it doesn’t mean he has an ownership interest. The bank will go after your spouse in case he cannot pay. The bank may file a mortgage lien on the property which does give them rights.

Q: Why is a quitclaim deed required if everything is in my name?

A: Even if your partner is not on the title, he or she may have legal rights to claim a share in the property based on state laws regarding marital or community property that was accumulated during the marriage. This is the reason a quitclaim deed is needed in order to ensure that the property is free and clear before selling it.

Q: Which party pays for the quitclaim deed?

A: The general rule is that the one who files the form is the one paying the fees. Check with the recorder’s office in the municipality where the property is located to be sure.

Q: Should I sign the quitclaim prior to  refinancing, or selling and closing?

A: You should do both simultaneously. You have to be sure that all is complete on both documents. Refinancing will only remove you from the mortgage; quitclaim removes you as the owner.

Q: Who owns the house if my spouse’s lawyer is holding the quitclaim deed?

A: The attorney can never own the home. The court’s order would apply to your spouse’s estate.

Q: Can my spouse sell our home if I never signed any type of deed or quitclaim?

A: If your name is listed on the deed, your spouse cannot sell the house without your approval.

Q: Will the judge force me to sign the quitclaim deed?

A: Yes, a court could order that the ownership of the home belongs to your spouse. The court will only order a settlement that it deems to be fair and equitable to both parties. If you and your ex negotiate a fair settlement, the courts are likely to follow your wishes.

Q: What if my spouse refusing to sign the quitclaim deed?

A: If you were awarded by the court a full ownership of a property during your divorce, your ex, is required by the court to sign the quitclaim deed. If they refuse, you can take it back to the court for violating the divorce decree. Your ex will most likely be held in contempt of the court and may even serve time in prison.

Q: Is my ex entitled to enter our home after signing the quitclaim deed?

A: Your ex is not the owner of the house. If their name is not on the deed, they cannot enter without your permission.

 

 

Source: 1-2-Law: https://www.12law.com