Qiut claims deeds

[gscaren]

What is the name of your state (only U.S. law)? NC
My husband & I have 2 houses. Both are in both names. We are thinking about separating. Could quit claim deeds protect me from him having an interest in the house we are living in now? and vice versa if he want complete interest in the other house.

 

[FlyingRon]

All a quit claim does is say "Whatever ownership I have, if any, I give up." It doesn't make any representations that I have any ownership, nor does it represent that I've not encumbered the property in any way.

What you really want, and your divorce attorney should press for this, is a special warranty deed that not only has him giving up interest, but also stating that he has not further encumbered the property in anyway.

A quit claim on your part will not get you out of any mortgage or other obligations you have nor absolve you of any deliquent tax obligations.

 

[mistoffolees]

All a quit claim does is say "Whatever ownership I have, if any, I give up." It doesn't make any representations that I have any ownership, nor does it represent that I've not encumbered the property in any way.

What you really want, and your divorce attorney should press for this, is a special warranty deed that not only has him giving up interest, but also stating that he has not further encumbered the property in anyway.

A quit claim on your part will not get you out of any mortgage or other obligations you have nor absolve you of any deliquent tax obligations.

Even that isn't enough. They need to refinance the mortgages (if any exist) so that each person is responsible for the mortgage only on the house they are keeping. If they don't do that, they could end up back here in a few years with another of the common "my ex won't pay the mortgage that he's supposed to pay and the bank wants me to pay" threads.

 

[FlyingRon]

I believe I said that. Deeding away ownership does NOT get her out of the mortgage. If there is a mortgage it needs to be refi'd, paid-off, or assumed, such that it removes her from it.

 

[mistoffolees]

I believe I said that.

Not really. You said she needs a general warranty deed. That would not protect her from him defaulting on the mortgage on 'his' house. In addition to getting an appropriate deed, she ALSO must get off the mortgage on the other house - which you didn't mention.

 

[FlyingRon]

I said she wanted a warranty deed rather than a quit claim.

I said in the last line that the deeds weren't going to affect the debt obligation.

Hopefully the original poster can read better than you.

 

[mistoffolees]

I said in the last line that the deeds weren't going to affect the debt obligation.

Yet you didn't explain what she had to do.

Maybe someone who's very familiar with mortgage financing would have understood, but most newbies posting here don't - which is why I specifically explained that she needed to have the mortgages refinanced.

AND, I managed to do it without your juvenile personal attacks.