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    sharonbernice's Avatar
    sharonbernice Posts: 1, Reputation: 1
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    #1

    Feb 10, 2007, 04:11 AM
    Quit claim
    My husband and I purchased a home together 4 months after we were married, but in order to get a better interest rate for the loan, and the title to go through I was asked to sign a quit claim document. Does this mean I have no interest in the home now that we are divorcing?
    landlord advocate's Avatar
    landlord advocate Posts: 283, Reputation: 36
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    #2

    Feb 10, 2007, 06:51 AM
    Quote Originally Posted by sharonbernice
    My husband and I purchased a home together 4 months after we were married, but in order to get a better interest rate for the loan, and the title to go through I was asked to sign a quit claim document. Does this mean I have no interest in the home now that we are divorcing?
    This is going to depend on the divorce laws in your state. You signed a legal agreement that was probably recorded. The quit claim signed the ownership of the property to someone else.
    letmetellu's Avatar
    letmetellu Posts: 3,151, Reputation: 317
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    #3

    Feb 10, 2007, 10:37 AM
    Get a lawyer for this question, it could be worth lots of money for you. If you can not afford one go to the legal aid society.
    dorianna's Avatar
    dorianna Posts: 2, Reputation: 1
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    #4

    Feb 10, 2007, 06:33 PM
    A quit claim deed is a type of deed -- it means that the previous owner gives you only what he owns.
    I know that seems kind of silly, but other deeds include specific promises of ownership and allow you to sue the previous owner based on the promises deed. Quit claim deeds are pretty common.

    The bottom line? The type of deed has NO impact on your ownership or lack of ownership of the property. The ownership of the property depends on the laws of your state. You should talk to a lawyer if things get messy with the divorce.

    And please, please, please... don't use the same lawyer as your husband.
    Good luck!!
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #5

    Feb 10, 2007, 07:22 PM
    As noted a quit claim deed is a legal deed, it gives all rights and ownership of the property of the seller to the buyer.
    It gives no warranties as to legal ownership.

    Now that does not do away with your obligation to pay on the mortgage if the other party does not pay, so I would never sign, until the other party has a refiance on the property. Because you are giving up your rights to the property but are still obligated on the mortgage.

    Just read some of the divorce on here and you will see women who write that after one or two years the ex stops paying on the house, and they come after them, even after signing the deed over, since the husband never did a re-finance.

    If you are going though a divorce and have property to divide, you need an attorney

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