Should I agree to file a quit claim deed to my ex-husband temporarily?

Question

We owned a house during the marriage and when we divorced he agreed to pay me $100 a month until my half of the value was reached. Now he is deeply in debt and wants to get a home equity loan, but he says I must quit claim for him to be able to do this. I DO NOT want to be paid off in a lump sum, as this will affect other benefits of mine. He says he can quit claim my name back on the deed after his loan goes through. Is this legit?

Answer 1

A quitclaim deed conveys whatever interest you hold in a piece of property, with no warranties on the deed. In contrast, general warranty deeds provide guarantees: that you own the property, that you can convey it, that the title is not encumbered (no liens, undisclosed easements, zoning defects, or encroachments), and that you are willing to take necessary steps to ensure the above.

So, the form of the deed is not the real question. Quitclaim deeds are just easier than general warranty deeds, because you are making no guarantees regarding what you own.

Your question seems to be whether it is necessary for you to give up your property rights in the house so your ex-husband can take out a mortgage. Under some state laws, mortgages taken out by one co-owner can encumber an entire property, including your interest, and can result in the property being foreclosed by the mortgage holder if not paid.

Under other state laws that follow a lien theory, your ex can encumber his part ownership, but not yours. If the mortgage holder forecloses, they would become part owners along with you, if your state followed those rules. The mortgage company may then attempt to force sale of the property, to get their investment back, but that would be a separate legal action.

Whenever your legal rights are at issue, you should consult with a licensed attorney. Property law, especially the intersection of co-tenancy, divorce settlements and mortgages, can be very complex. Don't take the word of some random person on the internet. Especially where your house is on the line.

Answer 2

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Answer 3

No, you do not have to quit claim to allow him to refinance. If you sign off on the house there is no guarantee he will put you back on it.

It might limit the company he gets a loan with but he should still be able to do it on his own. If not, another option would be for you to sign the loan, too, but that puts you responsible for the debt as well.

Even if you do not sign any loan papers, however, you are still responsible for the debt or you may loose the house if it defaults.
You need to get a temporary injunction if you want him to cease and desist on any changes with the property.

Answer 4

It is possible to do this (or for you to just cosign his loan) except it may create uncertainty and chaos later on. There's an easy fix, however. You two need to amend your Separation Agreement or Judgment of Divorce. You can put in writing exactly what he is to do, when and how. Get the help of at least one divorce lawyer; state laws differ and some formalities may have to be observed to make sure your new agreement is enforceable.

Answer 5

I don't know whether it is legit, but I wouldn't hold my breath for him to do it! In addition, he is spending your equity to pay off his debts. Think you will ever see that?Tell him to sign over a quit claim deed and move out!

Answer 6

my no and don't be stupid, later on he can take you to court and use the fact that it was your idea to file a quit and not his and that he was more than happy so he take the offer and right then and there he has a case on you and you wont get any compensation on that. However if you choose not to take my advice make sure you talk to a lawyer first before you go and lose everything.

Good luck.