Refinance before a quit claim deed?

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Refinance before a quit claim deed?

I’m in the middle of a divorce. We are refinancing the house so my ex can keep it and pay off his debt with his half. He is wanting me to sign a quit claim deed before we sign the refinance paperwork. They already ran my credit to do the financing. Which is it?

Asked on February 12, 2019 under Real Estate Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

If you quitclaim the house, you give up your rights to it: to live in it (it will be his house, not yours, and he can remove you) and to the equity or value in it (if it's sold, you won't get anything). While the terms of your divorce (e.g. any divorce settlement or order) may give you certain rights, since he cannot violate the final terms of the divorce, not knowing what those are, we cannot comment on them: we can only address the fact that under real estate law, once you quitclaim the home, it's not yours and you have no more rights to it.
Therefore, do not do this unless and until you have some enforceable court order or agreement/contract/settlement with your soon-to-be-ex protecting your right to live there (if you need or want to) and to receive the money from any sale (or whatever other compensation you are getting  for giving up the house).


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