Quitclaim Deed with Active Mortgage

[Milkman22]

Jurisdiction

Michigan

My ex-wife recently asked me to sign a Quitclaim Deed to remove my name from the deed of the house awarded to her in the divorce. However, I am unsure about signing, as my name is the only one on the mortgage and the home equity line of credit (HELOC). In our agreement, she has 3 years to qualify for refinancing to remove my name and put it in hers alone. Should I wait until she's ready to refinance to sign the quitclaim, or is it safe to do it now?

She has a history of being adversarial and sneaky, so I want to be sure I'm not setting myself up to be stuck with a mortgage and credit line on a property if she sold it.

Thank you!
M

 

[Zigner]

She should comply with the order prior to you signing anything.

 

[zddoodah]

Unless the divorce decree obligates you to sign the quitclaim deed immediately, it would be foolish to do so except in connection with her refinancing of the mortgage. Confer with your divorce attorney about this.

 

[adjusterjack]

She has a history of being adversarial and sneaky

And apparently had a much better lawyer than you did.

The award of the house in the decree presupposes (even if not specified) a transfer of ownership which can only be done by deed, leaving you on the hook for the loan payments if she doesn't pay them.

 

[Zigner]

And apparently had a much better lawyer than you did.

The award of the house in the decree presupposes (even if not specified) a transfer of ownership which can only be done by deed, leaving you on the hook for the loan payments if she doesn't pay them.

She needs to refi before he transfers ownership.

 

[adjusterjack]

Depends on the wording of the decree. She's got three years to refi and he might be in contempt of court if he refuses to sign.

Something he should certainly discuss with his attorney and not strangers on the internet.