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If my husband buys a house and pays the mortgage with money he receives from commercial building holdings he inherited, and I am not on the title, is there any reason I would have to sign a quit claim to it?
16 ANSWERS
Probate Attorney serving New Orleans, LA
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James G. Maguire
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Probably the title examiners require it. A quitclaim says that you are transferring any interest you may have, even if there is no legal basis for that ownership interest.
Answered on Aug 01st, 2013 at 9:51 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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Only so that the lender is confident that you won't make a claim for ownership if your husband dies.
Answered on Aug 01st, 2013 at 9:51 PM
2 Awards
Yes, because California is a community property state, and your signing would confirm that it is his separate property.
Answered on Aug 01st, 2013 at 9:51 PM
Thomas Edward Gates
If you are not on the title, you do not need to sign the Quitclaim.
Answered on Aug 01st, 2013 at 9:50 PM
Under certain circumstances and/or in some states, your legal status as wife might give you some claim to the property if your husband dies or you divorce. There may also be tax consequences if you have a claim on the title.
Answered on Aug 01st, 2013 at 9:50 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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Potentially there is a thing called "Dower" that gives you rights as a spouse.
Answered on Aug 01st, 2013 at 9:50 PM
Sanford M. Martin
No, only an owner generally must sign a quit claim deed. Your inquiry does not explain in detail your involvement in the transaction or why you would believe that you may be required to sign a quit claim deed.
Answered on Aug 01st, 2013 at 9:50 PM
3 Awards
Not necessarily, but if he or the company is refinancing or updating a line of credit, the lender may want you to sign off that you have no interest, or it may require that you apply as a borrower, if you refuse.
Answered on Aug 01st, 2013 at 9:50 PM
2 Awards
Yes, it would show that you have no intent of making a claim against that house should you guys divorce.
Answered on Aug 01st, 2013 at 9:50 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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No, and a deed from you would have no effect, anyway.
Answered on Aug 01st, 2013 at 9:50 PM
Yes, but it is very situation specific. There may be some community property rights from another state involved or a lender won't accept it as collateral for a loan without your signing the loan as a borrower.
Answered on Aug 01st, 2013 at 9:50 PM
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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No. A quit claim deed only transfers an interest you already have.
Answered on Aug 01st, 2013 at 9:49 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Yes, in order for you not to build a claim of value in the husband's property during the marriage, if his efforts maintain the building during the marriage. Don't sign the quit claim deed unless you are compensated in some way, as your potential community property claim has value, value acquired during marriage. Maintenance of a building is like receiving a salary during marriage, and investing the salary.
Answered on Aug 01st, 2013 at 9:49 PM
Neal Michael Rimer
Yes, to confirm that you have no interest in that property.
Answered on Aug 01st, 2013 at 9:49 PM
Edwin K. Niles
If a marriage partner wants to sell or encumber property, the title company (who will be asked to issue a policy of title insurance) will often ask the other partner to sign a q.c. deed. This is to reassure the company that you will not make a claim to the property at some later time.
Answered on Aug 01st, 2013 at 9:49 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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You would sign a quit claim in order to waive your dower rights in the property. That would allow him to sell the property without your permission or to possible transfer title to someone else.
Answered on Aug 01st, 2013 at 9:49 PM