should I sign quitclaim?

Question

I have a life threating illness.My husband and I just finished building a new house . My husband want me to sign a quitclaim he says so if we have any problems wiith hospital bills or anything like that should I sign it?

Answer 1

You should talk to a lawyer, but in many states a husband and wife own property in what is called a "tenancy by the entireties." What this means is that such property can not be seized by the creditors of one spouse withtout the consent of the non-debtor spouse. Obviously there are exceptions to this which vary from state to state and some states have "community property" laws rather than "tenancy by the entireties," so talk to a lawyer - preferably without your husband present.

Answer 2

Quitclaim deeds are not recognized in the title industry or by real estate professionals, as good and marketable title. Was he attempting to skirt financial burdens or was he seeking an avenue to be able to sell the home, in the event, you were unable to execute the documents due to health reasons? Perhaps a durable power of attorney, would suffice.

Answer 3

It's too late for this anyways. They will go back two years and see what the financial situation is. They cannot take your house away, but they can put a lien on it. Just make a payment of $20 to $100 a month. You can negociate with the personal at the hospital a normally they don't charge interest. Also do you trust your husband enough? Will he be there for you??????? I don't know your marraige status, but for me and my wife, I wouldn't trust her and vice versa.

Answer 4

It would seem like it's better to just write a will. Legally, what's his is yours, so they will likely come after him for your bills, if it comes to that.

Good luck to you, I hope you get better.