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Divorce Source Community Forums >> Property and Debt

bmjabber2
recently joined

Reged: 05/16/07
Posts: 4

Quit Claim valid in NJ?

05/16/07 05:39 AM

If the marital home has no equity, could one party quit claim the property to the person still living in the home or does this person have to requalify for a mortgage in her own name?

My understanding was that the bank(s) is notified when a divorce is imminent and will not release one spouse off the mortgage until the other fills out an application and qualifieds in her name alone.

If the spouse agrees to pay the mortgage to the other party, but wants to be removed from the mortgage, how would the mortgagor feel about this?

Thanks

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Subject	Posted by	Posted on
Quit Claim valid in NJ?	bmjabber2	05/16/07 05:39 AM
Re: Quit Claim valid in NJ?	madalex	05/16/07 08:09 AM

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