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  1. #1
    Join Date
    May 2011
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    2

    Default Divorce and Quit Claim Deed

    My question involves divorce in the State of: California

    I have been divorced for 2 years, in the divorce decree we were to sell our home, pay off all debts then split the remaining profits. Unfortunately the declining housing market didn't allow for this to happen at the time therefore my ex and I became roommates for the past 2 years following our divorce, now she is going to remarry and wants to give up all her rights to the home and any possible equity or future equity. I am in process of refinancing the home to remove her from title, will a quit deed complete the process for us and leave me with full rights and ownership of the home even though the divorce decree stipulates differently or do I need to draw up a seperate contract of release and have her sign it (notorized of course) along with the quit deed? ANy help with this is greatly appreciated......Thanks!

  2. #2
    Join Date
    Sep 2010
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    19,901

    Default Re: Divorce and Quit Claim Deed

    If there is no equity in the house at this time, I suspect it wouldn't be a bad idea for you to write an agreement that this releases her from any further liability or expectation of proceeds from the house.

  3. #3
    Join Date
    May 2011
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    2

    Default Re: Divorce and Quit Claim Deed

    Thanks for the response! There is equity in the house, we also have a second mortgage which was used to buy anothy piece of property. In the divorce settlement we were to sell the house, pay off all outstanding debts ( both mortgages), I was to keep the second property which would be then paid off and we were to split remaining proceeds. Being my ex is remarrying she has decided to walk away from it all allowing me to keep both properties without any obligations to her either now or in the future so I am looking to secure this agreement from a legal standpoint so she doesnt change her mind a few years down the road and want a share of the equity she would have if we sold now. I am refinancing the primary residence to remove her name from title and assumed a quit deed would settle the rest but then I got to thinking that it might not clear me from liability down the road. I am keeping the existing loan on our second property which for now will have both of us listed on loan and title, I am however doing a quit deed on that property also and assumed I should get her to sign a contract of release to any equity in either property from past or present to prevent any future financial obligations to her. Thanks again for the info!

  4. #4
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: Divorce and Quit Claim Deed

    If you're going to bargain this for that, I'd make sure all the assets and liabilities involved in the swap should be laid out in such a document.

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