QUESTION
What happens when I pay off mortgage if ex-husband is still on the mortgage but signed a quit claim deed?
Asked on Dec 20th, 2014 on Real Estate - Virginia
More details to this question:
The divorce decree and property settlement awarded the house and its responsibilities to me (e.g., ex-husband has no stake or claim or responsibilities to the house). He signed a quit claim deed and I recorded it with the county. However due to financial difficulties I have not been able to refinance the mortgage; I have been making all payments and taxes on time. What happens when I pay off the mortgage? Does my ex-husband need to be involved in any way, or notified? For example, will the title automatically be given to me?
1 ANSWER
When the quitclaim deed was recorded, his interest ceased. He will not need to be involved when the loan is paid off. As a courtesy, you might let him know so he won't list the mortgage as a liability on any loan applications he might do.
Answered on Dec 22nd, 2014 at 3:36 AM