My husband owned his home prior to our marriage. My husband & I agreed to get a divorce & I have moved out. I have no interest in pursuing any claim on my husband’s home, however, we refinanced 1 1/2 years ago & because my husband was self employed & out of work, we had to add me to the loan & the deed. If I sign a Quit claim to the home, does that release me from liability & from the mortgage as his attorney told him?
NO.
It releases you from the deed but NOT from the loan. Basically you’d have a loan on a house that you have no right to. Do not sign a quitclaim. You need your husband to refinance the house in his name only.
Quit claim deed in favor of your husband would give him your property right in the house, but would not release you from the mortgage obligation.
I did the same thing but I made sure it was written in the consent order that she pay the mortgage and home equity loan wit her child support and alimony. I am still at risk but if she defaults, I can file a motion for contemt.