After our marriage, my parents bought some homes w/ me as the co-borrower. The homes were bought with parents funds. My husband was not on the loan and he signed a quit claim. What happens to these homes if we get a divorce? Is it still community property if he signed a quit claim?
2006-07-07 04:36:56 · 13 answers · asked by fabmom 1 in Family & Relationships ➔ Marriage & Divorce
ask your attorney.
2006-07-07 04:39:33 · answer #1 · answered by boo 5 · 0⤊ 0⤋
I also strongly encourage you speaking with an attorney. However, in CA a quit claim is legal and binding, which means your husband will not have a claim on these properties. My husband was ill and he was the co-owner as CA is a community property state and I had got the funds through a loan on my income and credit alone. Due to his illness we knew if he died while still the co-owner his ex and her children could try to claim a potion of his half. We were concerned she would try even with a will stating it all went to me. This property had nothing to do with that wife or those two children. He paid child support. I bought this house for us. So, he did a "gift" release, which is the same as a quit claim only the way it is worded when a husband releases his share of a property to his wife in a community property state. This way it was not even his property when he passed and nobody could place a claim on it.
I believe your husband does not have any claim on the properties should you divorce. A quit claim is exactly what it sounds like: He has "quit" all present and future "claims" on those properties. This means he is not the owner in any way now or in the future. I believe this is as binding as my husbands "gifting" deed to me with our property.
I suggest you speak with an attorney who works in real estate. It should cost about a hundred dollars for a consulatation for information. The attorney can ease your and your parents minds about this issue much better than anybody here at Yahoo! Answers, unless one is an attorney and answers this question. However, I highly doubt any attorney is on here as they are just way too busy for something like this. lol
Good luck finding the information you need to ease your mind and your parents minds. Blessed Be.
2006-07-07 04:51:31 · answer #2 · answered by Serenity 7 · 0⤊ 0⤋
If your parents actually bought the homes and you are only a co-borrower then you have no equity in these homes and they are the actual owners. If this is the case then they would not be community property since you don't have any legal right to the homes.
2006-07-07 04:43:01 · answer #3 · answered by rkrell 7 · 0⤊ 0⤋
There are two things in your favor
1. He signed a quit claim relinquishing any claim to the property.
2. It could be argued that it was a gift from your parents. A gift is the separate property of the spouse who receives it.
Why are you thinking divorce?
2006-07-07 04:52:00 · answer #4 · answered by Anonymous · 0⤊ 0⤋
A quit claim means he no longer has any legal right to claim the property in any way. Neither is he liable for any of it if you fail to make the payments etc. Your parents were thinking ahead!
2006-07-07 04:40:19 · answer #5 · answered by arkiemom 6 · 0⤊ 0⤋
you do not say why he's searching you to signal a quitclaim deed, so going ahead, not in any respect signal something till you already understand what that's you're signing. even if he used his monies for the down fee, this does not propose squat. No courtroom will delay this decision on the assistance you gave. when you're dealing with a divorce and he's paying for you out, make positive that that's interior the contract (which that's going to be) that you get carry of fee previous to signing. also, your husband sounds like a real creep, yet you most likely already understand this.
2016-10-14 05:21:32 · answer #6 · answered by vergeer 4 · 0⤊ 0⤋
Call a lawyer that deals with property
they will be able to answer all your questions
the laws will differ from state to state so what someone puts here may be right in there state but not yours
they will usually have a free consultaion or be able to help you over the phone
2006-07-07 04:41:39 · answer #7 · answered by Anonymous · 0⤊ 0⤋
In my experience with the quit claim, my ex had all the responsibility, but none of the benefits. I could sell if I wanted, or refinance, but the house still had his name and was still on his credit report and he had no say in what happened to it.
2006-07-07 04:53:24 · answer #8 · answered by Helen T 3 · 0⤊ 0⤋
i dont know what a quit claim is but it dont sound good if you are thinking divorce. its strange how sometimes courts allow spouses to get stuff that you and i wouldnt think they deserve especially if they have no interest or investment of their own in the matter.
2006-07-07 04:41:58 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Depends on the state you live in. In Michigan your property would be safe from him. You need to talk to a lawyer.
2006-07-07 04:40:12 · answer #10 · answered by natex14 4 · 0⤊ 0⤋
signing a quit claim he relinquishes all rights to the said property. once he signs, he loses all rights to said property.
2006-07-07 04:40:09 · answer #11 · answered by Anonymous · 0⤊ 0⤋