QUESTION

If I get a quit claim deed on my house the wife will keep the house i am ok with that we have 2 kids will my name come off the Mortgages,

Asked on Aug 30th, 2011 on Divorce - Indiana
More details to this question:
I want my name off the house so I may buy something in the near future
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1 ANSWER

Financial Planning Attorney serving Brooklyn, NY
3 Awards
In your situation, transferring the deed to your wife by quitclaim (or other) deed will make her the owner of the property, but it will NOT take your name off the mortgages.  When you signed the mortgage documents, you entered into a contract between you and the bank/lender.  Only that lender/bank can remove you from a mortgage.  Normally, the only method of having your name removed would be for your wife to refinance the home and have the new mortgage placed solely in her name.
Answered on Sep 02nd, 2011 at 12:17 PM

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