QUESTION
Why would my ex need me to sign a deed in lieu after a quit claim deed and a bankruptcy?
Asked on Oct 31st, 2016 on Bankruptcy - Ohio
More details to this question:
I live in Indiana and divorced my ex in February. He is on disability, and thought that it would be fun to damage and abandon the house and stick me with the debt since they couldn’t go after him. I immediately filed a quit claim deed when the divorce was final since he got the house in the divorce. Once I found out that he abandoned the house and wasn’t paying the mortgage, I filed bankruptcy to get my name off it. Why after the quit claim deed and a discharged bankruptcy, would I need to sign a deed in lieu?
3 ANSWERS
Were that it was just as simple as signing a quit claim deed to get out of the responsibilities of owning a home! You have been misinformed and should have paid for competent legal advice many years ago. It may now be far too late to offer you any meaningful help. A quitclaim deed is of limited effect if the person you quit claimed to did not accept the gift of the property via the quitclaim.
Answered on Dec 08th, 2016 at 5:13 PM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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The quit claim deed transferred your ownership of the house to him, it's not necessary to sign a deed in lieu.
Answered on Dec 05th, 2016 at 4:23 PM
1 Award
To keep a foreclosure off of your credit. The quit claim deed that you signed did not effect the fact that you signed a trust deed when you got the mortgage. The deed-in-lieu will ensure that the bank does not list you in a foreclosure action.
Answered on Dec 05th, 2016 at 4:23 PM