If my ex-husband is asking me to do a quitclaim deed sothat Ican get my name off the house papers, does it take away my rights of getting money?
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If my ex-husband is asking me to do a quitclaim deed sothat Ican get my name off the house papers, does it take away my rights of getting money?
In the divorce papers it says I get 50% of the profit of both the homes we owned during the marriage, but now my ex-husband wants to do a quitclaim deed. Will this take away my rights of getting the money? There is no plans at this time to sell either homes but I don’t want to give up that right if I sign the deed.
Asked on September 15, 2011 under Family Law, Arizona
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
You are very smart woman to question the matter at this point in time. You need to be extra careful about giving up any leverage. I need to ask: what does the agreement you entered in to state on the matter? Besides getting 50% does it state you are to sign over the property? Are you to get 50 % of the value as of today or when you sell it? These issues need to be addressed. If you give up legal ownership but remain on the mortgage you have only liability. You can always sue him based upon the agreement (it is a contract) but you have more leverage this way. I would speak with your attorney on the matter and discuss the issue with him or her. Good luck.
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