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    Default Re: Marital Home In Oregon

    OK.... short course of Property Law 101......

    A "quitclaim deed" as used in Oregon is a device by which a person who is believed to have an ownership interest in real property can legally "release, relinquish and renounce" whatever ownership interest that the person MAY have in that property, doing so without representing and declaring to actually have such ownership interest.

    Keep in mind that if a person signs a deed purporting to sell, transfer or convey ownership of property that the person does not actually own, it would constitute fraud and it would be an illegal act. Use of a "quitclaim deed" avoids the problem and allows for any "cloud on title" to be removed.

    A person who signs a quitclaim deed is not saying that "I own this property or have an ownership interest therein." Rather, the person signing a quitclaim deed is saying "I do not claim to have any ownership interest in this property. But just in case I really do have some ownership interest, I hereby release, relinquish and renounce it and hereby forever forego the right to assert such claim of ownership in the future."

    OK.... now, moving on. If you are getting a divorce and all of the parties' existing joint ownership in the property is to go to you, the Judgment of Dissolution of Marriage should so state and should include the proper legal description of the property (as taken from the deed by which the property was originally conveyed to the two of you). The Judgment of Dissolution of Marriage will then suffice as a "document of conveyance" that effectively transfers and vests all of your wife's right, title and interest in the property to you. You can then proceed to sell the property as when and if you decide to do so, without further need of your then-former wife's involvement.

    BUT ----> Transferring your wife's ownership interest in the property to you does NOT remove her from being obligated to the mortgage company (or bank) as a joint debtor on the mortgage obligation. Unless the mortgage company agrees to do it otherwise (which is a rare situation), the only way to get you ex-wife's name off of the mortgage debt obligation is to pay off the mortgage (as would occur upon sale of the property or a "re-fi" of the existing mortgage).

    PS: A divorce judgment that awards all of the parties' joint ownership interest in the property to one spouse will often include a "money award" in favor of the other spouse for what is determined to be half of the equity in the property existing as of the time of the divorce. The court will then usually specify that the money award becomes due and payable either when the house is sold or by a specified date (e.g., three years after the divorce), whichever event first occurs.

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