Is a wife required to sign a quit claim deed if property and re-financing (mortgage) are both in the husband's name? 6 Answers as of January 22, 2015

I am recently married to a U.S. citizen and who already owns a home prior to marriage which is solely on his name. Now my husband is re-financing his home with a lender and he says that the lender has insisted that I sign a quit claim deed in order to submit towards the re-financing process so that they do not assess my credit history. As I am still an alien, not yet obtained my immigrant visa, I want to know if I really need to sign a quit claim deed - when my name is neither on the title of the property nor is the loan being taken in my name. Thanks in advance.

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LAW OFFICE OF ROBERT I LONG
LAW OFFICE OF ROBERT I LONG | Robert I. Long
In California, there is a community property interest that arises when either party to a marriage makes payments on the residence. He will not get the new loan unless you relinquish that right by a quitclaim, which may also have the effect of conceding any community property interest in the home's equity as to future payments of principal on the loan.
Answer Applies to: California
Replied: 1/22/2015
Law Ofices of Edwin K. Niles | Edwin K. Niles
Yes, because when there is a refi, the lender requires a policy of title insurance. It is a requirement of the title company that you confirm that you have no interest in the property.
Answer Applies to: California
Replied: 1/14/2015
Danville Law Group | Scott Jordan
Legally, no. However, banks don't usually care about the law and make up their own rules. It is not illegal to require you to sign over any ownership right you might have to the home. California is a community property state, so the fact that you live in the house while married may give you a claim to some ownership in the house.
Answer Applies to: California
Replied: 1/14/2015
James Law Group
James Law Group | Christine James
Yes you do. It is required of every spouse in a refinance if both are not going to be on the loan.
Answer Applies to: California
Replied: 1/14/2015
Irsfeld, Irsfeld & Younger LLP | Norman H. Green
The lender and/or title insurance company might be concerned that even though title is in your husband's name, you might have a community property interest in the property. By quitclaiming, you agree that the house belongs to him, thereby enabling him to re-finance. Consider showing all the papers to your own independent lawyer for assurance of what you might be giving up.
Answer Applies to: California
Replied: 1/14/2015
    Law Offices of George H. Shers | George H. Shers
    Your citizenship status is irrelevant. The bank wants to make sure that if they have to foreclose that you will not claim an ownership interest in the house so that they are not fully secured as to their loan. This is a very common requirement and the bank officials would be negligent in not requesting it. If you do not sign, he will not get the loan.
    Answer Applies to: California
    Replied: 1/14/2015
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