How to Use Quit Claim Deed Wisely in a Divorce

How to Use Quit Claim Deed Wisely in a Divorce

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The divorce is a most heart rendering and difficult time for both the husband and wife and it brings with a whole lot of complications when the relation has to split. The situation is the same whether they have lived for a long period of time or even for a shorter span. Along with the emotional and mental breaking of relation, even the real properties have to be divided. It is such a situation that the quit claim deed plays its role. The couple might have bought a few properties as husband and wife and they will have to decide which property goes to whom. By using legal documentation, the property is transferred from one party to another and the easiest way to do this is through quit claim deeds.

This deed has been named so because the person who actually owned the property quits all his claims over the property and transfers it to another person. Quit claim deed is being widely used in divorce cases. Imagine a situation where, as a couple, the husband was looking after and had his interests in his wife’s property. But, when it comes to the situation of divorce, the husband who is known as the grantor quits any interests he has over her property and the wife is known as the grantee. Once the deed is legally documented and signed by the two parties, the wife acquires all the ownership and interests over her property without the interference of the other party.

Sometimes in a divorce, the person who has a better income might offer a property to the lesser financially secured party. A simple quit claim deed will be enough to transfer the ownership which was conjugally owned by both of them. The wife can even ask for the conjugal home from the husband and have it legalized using the deed documentation. There is another instance where the deed comes into play between the couple. If a married person is selling a property, he can ask for a quit claim deed from his partner so that the spouse will not be able to exert any rights over the property and come back for it later. Sometimes the buyer requests for such a deed to be signed to keep his side safe, even though the deed has a catch as the person who is buying the property is not completely secured.

While preparing quit claim deed for divorced couples, the document should have their legal names as it appears in the divorce documents. One factor here is that, if there is no transfer of properties and both of them are planning to live in their own homes after the divorce, then the deed document has no role to play. The deed also does not let free the grantor from his mortgage obligations over the property and in such a case, the mortgage will have to refinance in the name of grantee. Getting help from a legal attorney will be very helpful to lead you in the right track.
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