Posted by dealmaker on March 04, 2007 at 14:54:57:
SKH; You need to get your ex to REFINANCE the property with a NEW LOAN and get you OFF THE LOAN. The quit claim will not do that. A quit claim only gets rid of your RIGHTS, not your OBLIGATIONS.
The original deal was between the two of you and the original lender. No divorce, no agreement between spouses and no quit claim deed can erase that obligation.
No need to get an attorney, just get your ex to BUY YOU OUT, for ZERO DOLLARS with a new loan and deed in his name only.
When my ex tried to get an equity loan, my name came up on the deed.
The original quit claim can’t be found and may not have been filed. I have a copy, but it isn’t signed.
It is WA. state, and my concern is if I sign the exemption and quit claim will it be enough?
Should compensation be expected? How is that amount determined?
As I understand it, as long as my name is on the deed, I could be held responsible for payments if he should die or file bankruptcy. What is the safest way to go without hiring an attorney?