Does a co-owner have equity rights after executing a quitclaim deed?

About 12 years ago, a boyfriend and girlfriend purchase a property together as joint tenants. Then 6 years later, the boyfriend quitclaimed the property to the girlfriend as her sole and separate property, which was acknowledged by an all purpose acknowledgement. The quick claim deed was recorded 4 years ago. The girlfriend did a loan modification but the boyfriend’s name is still on the loan. She now wants to sell the house. Is the boyfriend entitled to any of the equity?

Asked on May 22, 2018 under Real Estate Law, Alaska

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

No, he is not. He relinquished his rights as an owner when he executed the quitclaim deed.  Any equity he felt that he was entitled to should havebeen addressed at that time. Further, being listed as a co-borrower on a mortgage does not impart ownership rights.

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

No, he is not. He relinquished his rights as an owner when he executed the quitclaim deed.  Any equity he felt that he was entitled to should havebeen addressed at that time. Further, being listed as a co-borrower on a mortgage does not impart ownership rights.


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