If my husband refinances our home solely in his name and based solely upon his income and I sign a quit claim deed, am I totally off the hook? 10 Answers as of January 22, 2014

Also I'm assuming they would not come after our adult children should he default/pass away? Thank you.

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The Law Firm of Jessica M. Cotter, P.L.L.C. | Jessica M. Cotter
In Arizona if you have quit claimed the property to him, and the refinance is in his name only, then it would appear that you have been removed from any liability for the mortgage. Arizona has protections built into its real property law that prevent a mortgage company from doing anything but taking the house back, at least for property that is a single family home on less than 2 1/2 acres.
Answer Applies to: Arizona
Replied: 1/22/2014
Kirby G. Moss PC | Kirby G. Moss
You would be off the mortgage, so don't worry.
Answer Applies to: Indiana
Replied: 1/22/2014
Law Office of Robert E McCall | Robert McCall
You still have an interest based on the Florida Constitution Homestead provision.
Answer Applies to: Florida
Replied: 1/20/2014
Peyton and Associates | Barbara Peyton
If the loan is solely in his name you have no obligation to pay the debt unless you want to stay in the house if he should die.
Answer Applies to: California
Replied: 1/20/2014
Peters Law, PLLC
Peters Law, PLLC | Mark T. Peters, Sr.
The children are not responsible for his debts, only his property is. And yes, if he refinances in his name only and you sign a quit-claim deed, you are off the hook.
Answer Applies to: Idaho
Replied: 1/20/2014
    Elizabeth Jones, A Professional Corporation
    Elizabeth Jones, A Professional Corporation | Elizabeth Jones
    Yes. If the house and the financing is in his name you are off the hook.
    Answer Applies to: California
    Replied: 1/20/2014
    Coulter's Law
    Coulter's Law | Coulter K. Richardson
    Yes. By signing over your title interest through the quitclaim deed to your husband, you will not be liable as an owner in the case of damages, repairs, injuries, etc. If a bank refinances with only your husband as an obligor, you are off the hook financially. If he dies with the mortgage unpaid, the bank will look to the property to get paid back. Your children would not be liable unless they chose to keep the house/live in it. I do not recommend doing this unless you have an attorney involved to ensure that your husband actually refinances with you off the mortgage. I have seen bait and switches like this before, where one person executes the quitclaim deed but the other person either does not or cannot refinance the house. If that happens, you have the liability, but no equity interest or upside
    Answer Applies to: New Jersey
    Replied: 1/20/2014
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    Sounds good so far, if it is important to you take the paperwork to an attorney and make sure it is recorded.
    Answer Applies to: Michigan
    Replied: 1/21/2014
    Mediation Services of Southwest Florida
    Mediation Services of Southwest Florida | Dennis J. Leffert, J.D.
    It sounds as if you are off the hook as long as the home was refinanced in his name alone and he records the quit claim deed. In order to be certain of this, however, you might want to telephone the lender to confirm and check the County records to be certain the quit claim deed has been recorded.
    Answer Applies to: Florida
    Replied: 1/20/2014
    Barr, Jones & Associates LLP
    Barr, Jones & Associates LLP | Andrew Brasse
    If he refinances the loan and you quitclaim your interest in the house, you are free from all responsibility on the house. The mortgage company could not ever come after you on the loan. They could not go after anyone other than him in connection to that loan.
    Answer Applies to: Ohio
    Replied: 1/20/2014
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