I live in Oregon.
2006-10-29 05:26:08 · 3 answers · asked by fire_crakker 3 in Business & Finance ➔ Renting & Real Estate
A quit claim just ends your ownership, not your responsibility for the debt. Your lawyer should have covered that with you. You would also need to get a release on the mortgage and any other debt that's owed.
If you have any amount of equity, would be reasonable for him to buy you out, unless you're trading that for you getting other joint posssessions.
Good luck. Don't just sign a quitclaim without a release from the lender or you'll really be stuck!
2006-10-29 06:19:48 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Wouldn't it be to your advantage to have your ex "buy you out", that is give you an amount equal to one-half the value of the house? The house and the debt would be his.
2006-10-29 13:55:24 · answer #2 · answered by PALADIN 4 · 0⤊ 0⤋
Judy is correct. A quitclaim will not mean anything to the lender you owe money to.
2006-10-29 23:21:02 · answer #3 · answered by silentbobsdad 1 · 0⤊ 0⤋