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Divorce Decree vs Quit Claim Deed
My ex and I were divorced 3 years ago and in the decree it stated that he was to have our home refinanced to get it our of my name, if that wasn't possible he would have to sell it and we would split the equity. Me being too nice never pushed the subject until my current husband and I decided to purchase a house last year but my ex was remodeling our house therefore couldn't get an appraisal. Our mortgage lender instucted me to file a quit claim deed and get proof that my ex had been making the pyments all along on the house in order for us to qualify so I did that. Now my ex is selling the house and I'm wondering if I'll still be entitled to hlf the equity since I signed the quit claim deed. Any help would be appreciaited so I'll know if I have any ground to stand on in this matter. I should add that the home was purchased from my grandparents for what they owed on it which attributes to the large amount of equity in the home.
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... Now my ex is selling the house and I'm wondering if I'll still be entitled to hlf the equity since I signed the quit claim deed ...
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I agree, signing the quit claim deed was a big mistake. I would suggest that you consult an attorney, because if your mortgage lender advised you to do that without protecting yourself, they may (long shot) have some liability for your loss.
What you should have done is sign the quit claim in exchange for a contract to share in the equity after a sale. That would have protected your interests while satisfying the lender. Had you consulted an attorney before signing, I suspect you would have been advised as I suggested. Now its too late. |
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Yes, signing a Quit claim deed was a very foolish mistake. First, signing that over, merely gave the ex full ownership, but left you on the mortgage. Had the ex, failed to pay, even after signing the Quit claim deed, the lender could have came after you.
Who ever gave you such advice did not do it in your best interest. But no, now it is too late, his selling the house, only gets you off the loan for that house. He fully owns it, and owes you nothing. |
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