Quick Claim Release
My soon to be ex husband and I are co signers on a mortgage loan for our daughter. He wants his name off the mortgage and somebody told us we need to get a quick claim release for him to sign off. Can you tell me how this work and how effective this is? are there any other ways? Thank you. Carolina :wow:
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Carolina-
is a legal instrument to relinquish interest in a property. This by itself, however, will not get your husband's name off the mortgage- the deed and the mortgage are two separate things. Even if your husband releases his interest in the house, he is still liable for the mortgage until your daughter refinances or the bank agrees to amend the note to take his name off of it. I am not giving legal advice... Please consult your attorney (I assume you have one, if you are going through a divorce) to make sure that all your bases are covered, since it sounds like you are also financially liable for your daughter's mortgage....
A "QUIT CLAIM DEED" (not "quick claim"
Thank you for your answer. Do you know where I would get this "quit claim deed"?
It is a standard legal form. Your attorney would have a copy, or any stationery store that carries legal forms. You could also call the Recorder's Office in your County Courthouse- they would probably know of a nearby stationery store that would have them.