QUESTION
Are QuitClaim deeds legal in the state of Georgia? There are people out there who ay mortgage with someone else having their name on the deed.
Asked on Nov 30th, 2011 on Real Estate - Georgia
More details to this question:
Thee is a couple who have divoprced. The ex wife is named on the mortgage and the deed. The ex husband lives in the home and pays the mortgage on paper.
There is a second wife on this motley arrangement.
1- Does th ex wife have any interest and/or liability in case of death or financial problem?
2- Is wife numer 1 safe under thid QuitClaim from foreclosure or any legal actionsthe ex husband and wife number 2 may ave?
1 ANSWER
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Quit claim deeds are legal in Georgia. I'm not sure that I understand your question. If the ex-wife still has title then upon death of ex-husband then she owns 1/2 interest in the house. If the ex-wife signed the promissory note then she is liable for the mortgage.
Answered on Dec 13th, 2011 at 2:45 PM