Do I have to sign aquit claim deedif my ex-wife was denied the assumption of our mortgage?

UPDATED: Sep 8, 2011

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Do I have to sign aquit claim deedif my ex-wife was denied the assumption of our mortgage?

My ex was awarded the home in our divorce decree. In it, it reads she must make “reasonable effort to have husband’s liability removed”. She processed an assumption with the bank and it was denied because she doesn’t show the income needed to support the payments. Now her attorney says that I have to sign the quit claim deed because the house was decreed to her. This essentially means that I am still on the loan and liable for payment of this house if she defaults, but have no interest in the home because I’ve had to quit claim it over to her. Is this correct? How do I fight this?

Asked on September 8, 2011 under Family Law, Florida


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

This is such a common issue with couplesthat are divorcing.  In this economy it is more unlikely that one of the parties will be allowed to modify the loan to be on it alone and with out the income of the other party on the application to refinance or assume the mortgage or what ever.  Read your divorce agreement here.  Are there any safeguards built in to it regarding this issue?  Was there anything that even says what will happen in the event she can not obtain a loan on her own?  If not then I would consider seeking legal help to modify the agreement in some way in order to protect your self.  You are lucky here: you did not sign the quit claim deed at the time of the divorce.  Many peple do and they are with out any leverage.  You have leverage here.  Use it wisely. Good luck. 

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