Quit Claim
REM #F803
By Ilyce R. Glink
Summary: A home owner asks about a quit claim deed that her ex-husband signed and what it means. She worries about paying a mortgage on a home with a quit claim deed. His signing of the quit claim deed should take the home out of the marital assets.
Q: My husband signed a quit claim deed four years ago while living in another state. Now, we're finally getting divorced. I have been paying the mortgage which has been refinanced twice in my name only. Is the house a marital asset?
Please help me. I am so afraid I'm going to lose my home. I live in Massachusetts.
A: If you purchase a piece of real estate while you're married, that property is typically considered part of the marital estate. An exception would be if you purchase property using funds that are excluded from the marital estate, such as an inheritance that you have kept separate from your other assets.
In your case, your husband signed over a quit claim deed, which should have turned over to you any financial interest he had in the property. While this property might have originally been part of the marital estate, you've got a good claim that it no longer is.
That doesn't mean your ex might not try to get a piece of it. You should immediately consult with a divorce attorney who can advise you of your rights, and how to protect your home.
NOTE: Ilyce R. Glink's latest ebooks are "Credit Scoring Secrets" and "How to Find a Great Real Estate Agent," which are available at her new, all-video website, www.expertrealestatetips.net. If you have questions, you can call her radio show toll-free (800-972-8255) any Sunday, from 11a-1p EST. You can also write to Real Estate Matters Syndicate, PO Box 366, Glencoe, IL 60022 or contact her through her website, www.thinkglink.com ©2008 by Ilyce R. Glink. Distributed by Tribune Media Services.
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