J
Jaeag
Guest
California
My wife and I bought a house about 6 months ago. In order for us to qualfiy I had to sign a quit claim deed since my credit is not satisfactory. We both have however, equal interests in this home, ie: equal down payment, equal remodel costs and labor and time. I have fixed this house up from a shack to a nice home. I have approximently $30,000 into this home including down payment of $19,000 About $10,000 in fixing and repairs. We've been maried for 2.5 years been living together for 8 years. My question is if we get a divorce as that looks like where were heading do I have 50% of the equity or am I not able to recover any of my investment that I've been putting into this house. I have a statement signed by her stating that I am 50% vested into this deal, will that hold up in court? What exactly is a quit claim deed.
Thank you for your time & any input.
My wife and I bought a house about 6 months ago. In order for us to qualfiy I had to sign a quit claim deed since my credit is not satisfactory. We both have however, equal interests in this home, ie: equal down payment, equal remodel costs and labor and time. I have fixed this house up from a shack to a nice home. I have approximently $30,000 into this home including down payment of $19,000 About $10,000 in fixing and repairs. We've been maried for 2.5 years been living together for 8 years. My question is if we get a divorce as that looks like where were heading do I have 50% of the equity or am I not able to recover any of my investment that I've been putting into this house. I have a statement signed by her stating that I am 50% vested into this deal, will that hold up in court? What exactly is a quit claim deed.
Thank you for your time & any input.
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