Do I have to sign aquit claim deedif my ex-wife was denied the assumption of our mortgage?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

Do I have to sign aquit claim deedif my ex-wife was denied the assumption of our mortgage?

My ex was awarded the home in our divorce decree. In it, it reads she must make “reasonable effort to have husband’s liability removed”. She processed an assumption with the bank and it was denied because she doesn’t show the income needed to support the payments. Now her attorney says that I have to sign the quit claim deed because the house was decreed to her. This essentially means that I am still on the loan and liable for payment of this house if she defaults, but have no interest in the home because I’ve had to quit claim it over to her. Is this correct? How do I fight this?

Asked on September 8, 2011 under Family Law, Florida

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

This is such a common issue with couplesthat are divorcing.  In this economy it is more unlikely that one of the parties will be allowed to modify the loan to be on it alone and with out the income of the other party on the application to refinance or assume the mortgage or what ever.  Read your divorce agreement here.  Are there any safeguards built in to it regarding this issue?  Was there anything that even says what will happen in the event she can not obtain a loan on her own?  If not then I would consider seeking legal help to modify the agreement in some way in order to protect your self.  You are lucky here: you did not sign the quit claim deed at the time of the divorce.  Many peple do and they are with out any leverage.  You have leverage here.  Use it wisely. Good luck. 


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption