Quitclaim signed with ex 8mos ago. She cannot get financing or pay mortgage payments. Can I void the claim?
Mike M asked:
She tried to sell the property, but has not been able to. The mortgage remains in my name, and she is unable to obtain the financing to refinance the mortgage and take over the loan. Now I want it back due to her negligence. What options do I have? Can I void the quit claim since she has not met the intent of the claim?
DORIAN
She tried to sell the property, but has not been able to. The mortgage remains in my name, and she is unable to obtain the financing to refinance the mortgage and take over the loan. Now I want it back due to her negligence. What options do I have? Can I void the quit claim since she has not met the intent of the claim?
DORIAN
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6 Responses to “Quitclaim signed with ex 8mos ago. She cannot get financing or pay mortgage payments. Can I void the claim?”
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MARCO
depends on if you live in a dower state. If you do, your wife will be on the title of the house, no matter what, and you will have to have her on the mortgage, but not the loan…
REGGIE
No. Deed is a deed. Your best bet is to try and make her an offer to buy out before it becomes a foreclosure issue (assuming the quit claim was being made as a result of a divorce action) or if there is a reversion clause in the agreement based on the issues you describe
LANCE
This is going to depend on what State you are from…
Was the QC ever recorded ~ made Public Record?
You should check with YOUR lender, since the loan is in your name alone….Sounds like its YOUR responsibility…..
I would also, check with a Real Estate Attorney on this one….You may have gotten yourself into more HOT WATER then you EVER bargained for…
MYLES
You cannot void a deed that has been registered. See a lawyer. This is a legal issue best not handled here
MIKE
Your situation is the classic for why a Quitclaim deed is a bad idea if you are on the mortgage. You have legally signed away all interest in the property but remain responsible for the mortgage that is secured by the property.
As someone else suggested see if you can work with her. She can deed the property to you. If she has equity but can not keep up the payments you can agree to give her a second. Note that her equity is not really worth anything if she can not find a buyer to cash her out. Do not assume that there is equity until you have a willing buyer.
DERRICK
Mike,
I’m not an attorney, nor did I stay at a Holiday Inn Express last night, but I’m not sure how you could possibly void the quit claim, unless there was language in there to warrant that action.
Not sure who advised you to do this, but if you are on the mortgage, that is your credit she could be or is ruining. You are also the one responsible for paying the mortgage and if it is a standard mortgage you are obligated to keep the necessary hazard insurance and taxes in force and paid to date.
Again, not an attorney, but my limited understanding of a quitclaim deed is that it releases you, the grantor, any rights in the property that you may have. I don’t think there is anything else in there regarding - “Well, she was supposed to pay for the mortgage…”
If my answer didn’t help, sorry. Feel free to post more info regarding the situation and hopefully you can get some additional suggestions.
Regards,
Joe…