Skip to main content

Do I need to sign a quit claim deed in order for my ex-husband to proceed with short sale? We're both on deed & mortgage.

Sterling Heights, MI |

My ex husband lives in the home. We are both on the mortgage and deed. He is asking me to sign a quit claim deed so he can proceed with a short sale. Is this okay and "safe" for me to do? Being that I'm still on the mortgage I can't help but think it's not a smart idea to waive my interest in the home however, I know I'm not going to get any money out of it. I just want to make sure this is the correct way to go about things and that my ex has accurate information and it's okay for me to sign the quit claim deed. Also, I have credit in the 900's. How much is a short sale going to effect me?

Attorney Answers 3

  1. Best answer

    A quit claim deed WILL take care of this. If a short sale can be achieved, it will relieve your obligation on the debt. I cannot tell you exactly how much it will affect your credit, but it will be less of a hit than a foreclosure or bankruptcy.

    What does your divorce agreement or judgment say regarding the property?

    James Frederick

    *** LEGAL DISCLAIMER I am licensed to practice law in the State of Michigan and have offices in Wayne and Ingham Counties. My practice is focused in the areas of estate planning and probate administration. I am ethically required to state that the above answer does not create an attorney/client relationship. These responses should be considered general legal education and are intended to provide general information about the question asked. Frequently, the question does not include important facts that, if known, could significantly change the answer. Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in your state. The law changes frequently and varies from state to state. If I refer to your state's laws, you should not rely on what I say; I just did a quick Internet search and found something that looked relevant that I hoped you would find helpful. You should verify and confirm any information provided with an attorney licensed in your state.

  2. Do not sign the quit claim deed. If you agree to the short sale, all you have to do is to cooperate with the contract and closing. If you sign the deed, you are giving up your interest in the house but remaining liable for the mortgage. A short sale probably will affect your credit, but how much? where is your ex getting his info? (A realtor is not an attorney.)

    This response is based on the limited facts presented and is not intended to substitute for direct legal advice, nor is it intended to establish an attorney-client relationship. It is intended to direct you to issues which you may desire to explore further.

  3. Do not quit claim, surrender your interest only at the closing of the short sale. Otherwise you will have the debt and no interest in the property. You should.discuss the planned transaction with your own counsel.
    As for you credit rating, it will take a hit, borrow or refinance now

    To the PROSPECTIVE client, please call myself or another attorney for you choice with more detaiils and an appointment. My PRELIMINARY answer to your question(s) is for general purposes and based upon what little information you have conveyed. It is based on such limited information that the general answer should never be relied as a reason for your action or inaction. My response does NOT establish an attorney-client relationship and such may only be established by mutual agreement, and the signing of a written retainer agreement, which will generally require payment for our services, as this is what we do for a living and, just like you, we must get paid for our work.. .

Real estate topics

Top tips from attorneys

What others are asking

Can't find what you're looking for?

Post a free question on our public forum.

Ask a Question

- or -

Search for lawyers by reviews and ratings.

Find a Lawyer

Browse all legal topics