BEWARE of the quitclaim deed if you are getting a divorce
By Sam Miller, Knox County Ohio Real Estate Specialist
(RE/MAX Stars Realty)
Avoid This Landmine When Quitclaiming Your Home in a DivorceDivorces can create a whirlwind of emotions, paperwork, and tough decisions—throw in a shared home, and it can get even messier. For many couples during a divorce, one of the spouses wants to keep the house for stability (especially if kids are involved), while the other just wants out. Many attorneys might recommend a quitclaim deed. Many people view a quitclaim deed as a quick, low-cost way to transfer ownership from one ex to the other. It sounds straightforward—sign the form, file it with the county, and boom, you're off the title of the house. Wait just a minute…But here's the catch: a quitclaim deed only addresses the deed. It does nothing to the mortgage. If both names are on the home loan, the departing spouse is s...
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