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  1. #1
    Join Date
    Nov 2005
    Location
    SLC, Utah
    Posts
    2

    Default Quit Claim Deed

    Recently divorced, ex-wife retained the house and is now refinancing. She handed me a quit-claim deed to sign in order to do so.

    Everything I have read on quit-claim deeds says by doing so, I relinquish rights to any claim on the property, however in the divorce decree, upon refinance or remarrying, co-habitation, etc, I am entitled to 1/2 equity in the property.

    My question, by signing the quit-claim deed, do I give up my claim for 1/2 of the equity upon refinance or sale of the home?

    If so, how do we get around this?

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default

    If you are worried that your ex- will attempt to use the quitclaim deed in order to avoid her duties under the judgment, consult your lawyer about the possibility of a contract which would protect your right to your share of the equity.

  3. #3
    Join Date
    Nov 2005
    Location
    SLC, Utah
    Posts
    2

    Default

    is that a lien against the property?

    Does a lien work in this instance, saying for example that I sign the Quit-claim and then file a lien against my half of the equity?

  4. #4
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default

    Not really. First, the purpose of the quitclaim is to release your interest in the property such that the bank will issue a mortgage, and its effect would be defeated by the imposition of a lien. Second, the quitclaim would release your interest in the property, which might call into question the validity of a subsequent lien. You need to be careful.

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