My wife and I are getting divorced. I am the only borrower on the mortgage but both our names are on the house deed. Is a Quit Claim Deed the best way to go to have the deed transfered to me?
A quit claim will indicate that she has no interest in the property. Hence it will do what you want. At the same time it is not the best but...
If you are getting a divorce and you have an attorney handling it you can have the documents prepared as part of the procedure. There should be minimal extra cost.
If you use a deed that is a bit stronger then a quit claim then the title will appear to be cleaner. A quit claim is the weakest and sometimes is considered suspect in a later transaction. As the divorce process is pretty clear and you wife has a vested interest in the process using a warranty deed or something that shows more clearly that she has transferred all rights to you (as opposed to saying she just does not have an interest) is better for you.
There might be other reasons to use the quit claim. She can just sign it now while not waiting for a divorce process to complete. Hence I am not suggesting that you should pick one or the other, just that if she is agreeable there are better solutions then the one you are suggesting.
A quit claim will indicate that she has no interest in the property. Hence it will do what you want. At the same time it is not the best but...
If you are getting a divorce and you have an attorney handling it you can have the documents prepared as part of the procedure. There should be minimal extra cost.
If you use a deed that is a bit stronger then a quit claim then the title will appear to be cleaner. A quit claim is the weakest and sometimes is considered suspect in a later transaction. As the divorce process is pretty clear and you wife has a vested interest in the process using a warranty deed or something that shows more clearly that she has transferred all rights to you (as opposed to saying she just does not have an interest) is better for you.
There might be other reasons to use the quit claim. She can just sign it now while not waiting for a divorce process to complete. Hence I am not suggesting that you should pick one or the other, just that if she is agreeable there are better solutions then the one you are suggesting.
John
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