Quit Claiming Home During Valencia Divorce
When you have a home and are going through a divorce, one of the ways to handle the house if one spouse is going to keep it is to quit claim it to the other spouse. This is the easiest way to get the other party off the home. There are pitfalls to this however.
We provide a quit claim service. If you need to quit claim your home please call us, we can help you.
(By the way, we provide a full service divorce solution throughout California. If you are looking to get a divorce and would like assistance, please give us a call for a free phone consultation at 661-281-0266. We have a full service and self-help service.)
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If you quit claim off a property you still remain on the loan, assuming you were on the loan in the first place. This is the only real drawback. So if you trust your spouse (ex-spouse) that they will not default on the loan then you won’t have any problems doing this.
The reason it is popular to do a quit claim during divorce is because sometimes it is the only viable option. This is because the only other way to remove yourself is to either refinance the property or sell it.
If you were a 2 income family and purchased the home and got the loan under 2 incomes, it may not be possible to refinance the home in one spouses name only. Again, this is why the quit claim process is popular. You should just be aware of the downside of continuing to be on the loan.
We provide a quit claim service. If you need to quit claim your home please call us, we can help you.
