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Buying or Selling a Home/QuitClaim Deed
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Question
Hi Jay,
I bought a house with my now ex-girlfriend. Sheis on the mortgage and deed. If we do a quitclaim deed and she signs over the house to me will it stand up in court? I am worried that a year or two down the road before I can refinance and get her off the mortgage that she could try to claim some part of the house, try to move back in or make my life miserable...again. She will be staying until she finds a place of her own after the quitclaim. If she is in the house for 2 or 3 months and decides she's not leaving what are my options at that point?
Thank you for the time,
Ed
Hi Ed,
If your ex quit claims you the home, she no longer has ownership of the property. The mortgage and title are two very separate things and can be mutually exclusive of one another.
In your particular situation I would suggest you consult local legal counsel. Having her live with you after she has given you title to the home is a very sticky situation.
Your ex does have a vested interest in the property so my best guess is that an attorney would advise you to have the quit claim drawn and executed at the same time you refinance her off the mortgage.
Best of luck!
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Jay Denit
Expertise
I'm a Real Estate Broker/Loan Consultant in the state of Colorado. We have a separate foreclosure investing company, so I'm more than willing to answer any Colorado foreclosure questions for both the home owner and investor. I have sold bank owned homes all across the country for all of the big banks. I'd be happy to answer any questions about buying or selling residential homes and specialize in luxury estates. Furthermore, I have some experience in land acquisition and development and know a touch about water rights. We are a licensed lender in most states, so I can answer general questions about all types of mortgages.
Experience
My experience is really anything that has to do with real estate. From buying and selling to investing and foreclosure, I’ve done it all. Being able to handle the acquisition and financing under one roof gives me the intimate knowledge of all facets of property conveyance. My foreclosure/bank owned property (REO) experience gives me the problem solving mindset to always find a solution.
Organizations
BARA- Boulder Association of Realtors
NAR- National Association of Realtors
CAR- Colorado Association of Realtors
Education/Credentials
Xavier University-- BSBA Finance
Colorado State University-- Professional Certificate in Project Management
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