Getting Divorced--Quit Claim?
Hi. My husband and I are getting divorced. both our names are on the quit claim deed, and he wants me to have the house in leiu of alimony or whatever. His name is on the mortgatge. His mother said we should do the quit claim deed before the divorce. Does this sound right?
Thanks for any help!
no.
if he quit claims the property to you before the divorce, the next day he will have a claim against the property becuase you both were on title while married. I'm sure this is her attempt to give some honest advise, but these details are commonly handled by divorce attorneys - use one and you'll be protected by someone that will look out for you, not your ex.
No, don't simply deed the property to him before the divorce.
You should consult an attorney about divorce and your rights. To save money, you can consult an attorney for a couple hours inexpensively, then proceed without the attorney in the divorce based on that advice, calling again if there is a new question.
Get an attorney.
You can educate yourself better than ever on the internet AND there are good books. I used "Divorce and Your Money". It is a Workbook type. In my experience, all of these decisions are part of the formal separation agreement and changes will happen as Part of the divorce proceedings. Is there value in the house if he stops making the mortgage payments or are you going to make them? Part of the divorce will address this and other potential issues. Be smart and have support. Even amicable divorces can have interesting twists by intent or oversight. [ Edited by ceinvests on Date 12/05/2004 ]
Thank you all for the advice! I'm not sure I understand what you mean about him having a claim on the property the day after he signs it over to me? Can you please explain it to me? I plan on paying the mortgage, starting in January. He has only $1,500 in debt (aside from the mortgage being in his name), on a cc & will pay that off himself. He plans to leave this country and return home to England in less than a year, and genuinely doesn't want the house.
Thank you!!!!
In most divorce cases one or the other will quit claim their interest in the property and in most cases is done after the divorce proceedings have been completed but can be done before as well as long as an agreement between the both of you is done in writing. Sounds like this will be a simple process but do have an attorney draw up the agreement to protect both of you.
(please omit the personal comments re "attacks", etc. on this board. Thanks)
[ Edited by JohnMerchant on Date 12/08/2004 ]
Since you will be paying the mortgage, have you considered having it put in your name? There are pros and cons to both leaving it in his name and taking it into yours, so you want to look at that. And control/contact permission permanently placed on that mortgage info. IF you leave it in his name, especially if tax and insurance escrows are attached.
If your H does QC deed the RE to you in the divorce settlement & Judgment, he will likely retain what is known as "Divorce Lien" on half the RE for a certain period of time following the Divorce Judgment.
So he won't be just giving you the whole house or totally giving up his ownership interest in it.
For your benefit, you might tell him that there are note buyers "out there" who do buy these Div. liens for cash.
If he did sell his "DL", that might work to your getting rid of him permanently and his having any interest in the RE, which might be very beneficial to you.
But you definitely should consult a lawyer before taking any permanently irrevocable action in the divorce matter.