Part of the equitable distribution is that my ex-husband gets the house and I am to sign a quit-claim. I have no problem with this. I don’t want anything to do with that house. I am on only as an owner, not on the mortgage (deed only). However, I continually (probably every 6 months) receive notification that they’re going to foreclose on the house (now, mind you, this has been going on probably for a couple of years). My assumption is that he gets these papers, works with the finance company to make payments and the foreclosure is called off. Then maybe he gets behind again, foreclosure process starts again and I start getting these papers. It’s just getting old.
My question is two fold.
1: Can I draw up the quit-claim paperwork myself, get him to sign it, notarize it and file it with the courts? Is this legally binding?
2: If for some reason the foreclosure goes through 100% and they foreclose on the house, even though the equitable distribution papers state that my name is to be OFF of the house, how does that affect me when I’m only on the deed but not on the mortgage/financials?
Still hoping for an answer on this. I also have another question. If the equitable distribution states that I am to sign a Quit Claim to be removed from the paperwork showing I’m partial owner and he will not have the paperwork drawn up or if he won’t sign it, what recourse do I have, if any?
Need an answer please. Sheriff showed up at my door yesterday and served me with “Notice of Hearing On Foreclosure of Deed of Trust”. I am aware that my name is not on the mortgage so I am not financially responsible for any of this. However, my name is still listed as an owner and so if this foreclosure goes through, even though my name is no longer supposed to be on the house, I will wind up having a foreclosure on my record. I CANNOT let this happen as I have worked EXTREMELY HARD to rebuild my credit after our bankruptcy. What avenues of recourse do I have available to me?
Sorry for the delayed response. I was on vacation for a week and I answer questions in the order they are posted, so every time you posted again, you bumped yourself up the list.
These questions are better suited for a real estate attorney and a foreclosure attorney, but to my knowledge, if you are the party that is quitclaiming your interest to your husband, you can sign the deed and record it yourself. It does not require his signature. Also, it is my understanding that if you are not on the mortgage, a foreclosure of the mortgage should not impact your credit, but it will impact your ownership interest in the property. If you want more specific answers, you should speak with attorneys in those fields of practice.