does a quit claim protect your home if any lender goes after the spouse that did the quit claim on the property???
2007-05-21 15:56:46 · 3 answers · asked by Araceli Q 1 in Business & Finance ➔ Renting & Real Estate
Possibly. You don't give enough information to make an actual judgement on. A quit claim is more for removing future responsibility rather than the past.
Depending on the action the quit claim needs to have been completed within a statute of limitations. For some thing it is two years, for others it is five, for some it is forever..
I need more detail to give a difinative answer.
2007-05-21 16:03:08 · answer #1 · answered by ttpawpaw 7 · 0⤊ 0⤋
if there is a mortg. on the property, someone is still liable for that loan.
You could quitclaim the home to your cat*, but if you default on your loan that is secured by real property, (your house), that's what they're going to come after no matter who is on title.
*cats cannot own property
**no cats were harmed in the making of this answer
2007-05-21 16:10:42 · answer #2 · answered by Miss Emily 3 · 0⤊ 0⤋
unfavorable, in case you owned the valuables with your mom all you ought to do is relinquish your interest in the valuables. you will quit declare deed it from you and your mom on your mom. be constructive to notarize and record it.
2016-12-17 19:38:21 · answer #3 · answered by Anonymous · 0⤊ 0⤋