Welcome New User! ( Create Account | Sign In )
 
Question

Submitted 103 days ago...

Adaptor787

Adaptor787

New User (2)

What is the purpose of a quick claim deed

My husband just purchased an investment property and I was made to sign some forms because of our marriage (Alabama law?) then I was told if I have no interest in the propery and want to assume no liability I should complete a quick claim deed. The loan was solely taken out by my husband.

 
 
 
Answers
 

Answer 1 / 4

Submitted 103 days ago...

Landman

Landman

Authority (342)

If you file a quit-claim deed you canl remove your name from the title. Good Luck!

 

Answer 2 / 4

Submitted 101 days ago...

Clockman1

Clockman1

Contributor (136)

If you signed a note, you are equally obligated to repay the mortgage. A quit claim deed simply removes you from ownership.

 

Answer 3 / 4

Submitted 97 days ago...

Adaptor787

Adaptor787

New User (2)

I did not sign a note. I signed a few documents that were told had to be signed based on Alabama Law. i didn't understand why but i know I did not sign the note. What forms are a spouse legally obligated to sign? i questioned the closing agents and was told that it was the law and would give me ownership in the even something happened to my spouse. i want to make sure I will not be obligated to pay the loan if something happens to my spouse. He assured me but I question this process. Do I have any obligation for the note if I didn't sign a note even if I'm the spouse?

 

Answer 4 / 4

Submitted 80 days ago...

Newborn373

Newborn373

Beginner (22)

Don't do it. I live in Alabama. A quit claim deed is saying you have no right s to the property. If you sign that you will never have legal right to that property.

 
 

Answer This Question Now

If your Answer is chosen as the “accepted” answer, you will earn ongoing royalties on this thread.
Simply type your Answer in the box below and post your answer.

Email Subscriptions

Author adds clarification

All new responses

Related Questions
 

This Question has not been awarded yet.

Post your answer now!