Does a quit claim deed supersede a separation agreement
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Does a quit claim deed supersede a separation agreement
We signed and filed our separation agreement back in 2014 and the agreement
states that both parties are entitled to the equity of the house when sold. If
one party signed a quit claim deed to the other party are they giving up their
equity that is due to them as stated in the separation agreement?
Asked on August 2, 2017 under Family Law, New York
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
When a quitclaim deed is executed, the party signing it (i.e. the "gramntor") gives up their right, title and interest to the party named in the deed (i.e. the "grantee"). Therefore, in this instance it would supersede the separation agreement.
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
The quitclaim deed supersedes the separation agreement because a quitclaim deed means that the party gives up his/her entire right, title, and interest in the property. This includes equity.
The quitclaim deed is signed in the presence of a notary. It becomes effective upon being recorded (filed with the County Recorder's office).
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