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Quit claim deedMy ex-girlfriend and I jointly bought property but now i am close to losing the property and she wants to sign off on a quit claim deed, thinking that she can avoid any negative credit ratings and then not be responsible for any of the debt repayment. Is this correct? I am more than willing to go through that process if I can get her out of my hair! Then I can work on repairing the damage. Attorney answers (1)
Reputation Level 12
Answered over 2 years ago.
Real Estate Attorney in Dillon, CO.
She can sign over her half, but she will remain on the Note and mortgage, and thus will not avoid all the repayment or credit issues, unless it is done as part of a refinancing. The refinancing would need to be with a new loan and mortgage is just in your name. That is what you need to explore doing with your morgtage broker or bank.
I hope this helps, and I wish you luck in resolving your legal matter. 1 person marked this answer as good
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