| marissa07 |
| (recently joined) |
| 01/09/12 05:01 PM |
Re: Quit Claim Deed questions
|
Thanks Renny for your answers!
I have some follow-up questions for you (or anyone else that has an answer) and thanks again in advance.
(1) You said not to execute the QCD until a divorce is final and I'm off the mortgage. I understand that I should wait until I'm off the mortgage to sign the QCD, but as for waiting until a divorce is final, can you tell me what the reason may be?
Our plan at the moment was that he would get a refinance in his name only, and then I sign the QCD and then file for our divorce (unless our mortgage company requires my QCD as part of him refinancing. I heard some companies require both refinancing and QCD to be performed at the same time).
We want to divide our joint assets (house, cars, credit cards, bank accounts etc) before filing for a divorce, because we thought it'd make our divorce process a lot easier. When I look at instructions how to fill divorce forms, there is "Paragraph 14: Marital Property" and there are 3 choices, (a) do not own any marital property, (b) own marital property but already have divided them to mutual satisfaction, and (c) have marital property and they need to be divided by the court.
Since we do have marital property, we wanted to divide them up prior to filing for a divorce so that we can check (b) and be done with it. But, if I wait until a divorce is final to sign QCD, which means I still own our house at the time of filing, and that means we should check (c) and court will intervene as to how to divide up our property including our house, isn't this right? I'm afraid that it will make things a lot complicated and time consuming when we are perfectly capable of doing so on amicable terms.
(2) You said the tax part won't go on the QCD, but only in the CO. Could you tell me what CO is short for?
(3) You said report the Civil Action No. in the QCD. What is the Civil Action No. and how do I acquire one?
Thanks again so much.
But our concern is, if we wait for me to sign the QCD until our divorce is final, that means we should indicate on our form that our