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GHJ
recently joined

Reged: 06/09/13
Posts: 2

I made mistake; misunderstood PSA re: quit claim.

#803572 - 06/09/13 05:30 PM

Property settlement, October 2012, has me to quit claim our house to ex within 30 days, her to re-fi "when feasible". I later found out my name will still be on the mortgage regardless of title interest, so I think best to have title company hold my quit claim to be released simultaneously with her re-finance or sale of house. She does not agree and is threatening to file contempt charges. What should I do?

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GHJ
recently joined

Reged: 06/09/13
Posts: 2

Re: I made mistake; misunderstood PSA re: quit claim.

[Re: GHJ]
#803573 - 06/09/13 05:59 PM

Married 2 years, no children. We bought the house 4 years before we married. In divorce, she wanted the house and any accumulated equity. Fine with me. The settlement also states she agrees to "indemnify" me from mortgage debt; I did not realize at the time that she really can't effectively do this without re-fi or sale. She has been making the mortgage payments, but also re-married 3 months after our divorce was final and has since no longer lives in the home. I'm concerned that once she has the quit claim deed she will stop making payments and the bank will come after me though I will have no right to the property. She and her new husband have no assets that I am aware of and she has recently flat out told me she does not care "in the least" about her credit rating.

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MinnesotaMom
member

Reged: 01/05/11
Posts: 193

Re: I made mistake; misunderstood PSA re: quit claim.

[Re: GHJ]
#803577 - 06/09/13 10:06 PM

Yes, the bank will come after you and if she doesn't make the payments and your credit will be destroyed as well if you don't make them for her.

It has to be written that she has so many months to refinance and get your name off the loan, or the house will be put up for sale by you.

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