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Old 04-21-2011, 01:38 PM
 
Location: wannabeinkentucky
862 posts, read 1,637,064 times
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John Doe purchased a house. His wife, Jane Doe, is on the title even after saying she didn't want to be on the title. Looking to do a Quit Claim Deed to get Jane off of the title. Thought it was going to be easy but now not so sure.

Looking at mortgage documents filed on line it says under definitions:

A. "Security Intrument" means this document, which is dated xx/xx/xxxx together with all Riders to this document.
B. "Borrower" is JOHN DOE, A MARRIED PERSON and JANE DOE, his wife.


Is Jane on the mortgage? Jane's name is not on the mortgage statement, nor was her wages or credit history used to obtain the mortgage. But in this statement online Jane initialed everywhere John did, and Jane also signed the document. IF Jane is on the mortgage, can she still be taken off the title?

Sorry if there isn't enough information. I appreciate any advice given.
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Old 04-21-2011, 01:48 PM
 
Location: DFW
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In Texas, a non-borrowing spouse still has to sign the Deed of Trust because it's a community property state. She wouldn't be on the Note or any other documents.
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Old 04-21-2011, 01:53 PM
 
Location: Massatucky
1,187 posts, read 2,384,734 times
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If her income (and yours) was used to qualify for the loan (now the NOTE) and you both filed FED jointly and took the deduction, chances are she is both on the NOTE and the DEED and owns half the assets and half the liabilities. You own the other half.

Good luck.
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Old 04-21-2011, 02:02 PM
 
Location: Simmering in DFW
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My DH bought a house in 1997. He was madly in love with a sweet young thing and put the house in both their names though only he qualified for the mortgage. She bowed out of the relationship w/i 3 months and when we married in 2005 the house was in both their names. When she left she signed a quit claim deed and continued to ask him to get her name off the title b/c over the years every time she has tried to buy a place our house came up. For a few years I tried to get this taken care of and the mortgage company demanded about $1600 to get this taken care of. So we just waited until 2009 when we refinanced the house, and this former love was more than happy to do another QCD. Problem taken care of at no additional cost. So, if you are considering refinancing during these great low rate times, that would be a way.......
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Old 04-21-2011, 02:03 PM
 
Location: wannabeinkentucky
862 posts, read 1,637,064 times
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Thanks for the replies.

Actually I am the one trying to get off of the title. My hubby is the one who has the mortgage. My income [or lack of lol] was not used in consideration. We are in Kentucky which I don't think is a community property state. Our Realtor said I had to be on the title because that is what he thought was best in case something happened to my hubby. I tried to argue it, but he said it was too late because he had turned in the paperwork. I am sure only my hubby is on the mortgage. There is the Deed listed on line, then the Mortgage which is what I am questioning.
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Old 04-21-2011, 02:04 PM
 
Location: wannabeinkentucky
862 posts, read 1,637,064 times
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Thanks Squirl but we are only a year and a half into the loan with a pretty good interest rate so I don't think refinancing is the way to go for us.

Last edited by serate; 04-21-2011 at 02:05 PM.. Reason: I can't spell.
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Old 04-21-2011, 03:08 PM
 
5,339 posts, read 14,075,967 times
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Quote:
Originally Posted by serate View Post
Thanks for the replies.

Actually I am the one trying to get off of the title. My hubby is the one who has the mortgage. My income [or lack of lol] was not used in consideration. We are in Kentucky which I don't think is a community property state. Our Realtor said I had to be on the title because that is what he thought was best in case something happened to my hubby. I tried to argue it, but he said it was too late because he had turned in the paperwork. I am sure only my hubby is on the mortgage. There is the Deed listed on line, then the Mortgage which is what I am questioning.
If you aren't on the note, you do not have to refinance to get off the title. A quit claim deed should do. However, you do not want to sign the QCD until you know for sure that you are not on the hook for the loan (not on the note). fyi-there is no benefit to you getting off the title. The benefit is to your ex.
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Old 04-21-2011, 05:16 PM
 
Location: wannabeinkentucky
862 posts, read 1,637,064 times
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Quote:
Originally Posted by TimtheGuy View Post
If you aren't on the note, you do not have to refinance to get off the title. A quit claim deed should do. However, you do not want to sign the QCD until you know for sure that you are not on the hook for the loan (not on the note). fyi-there is no benefit to you getting off the title. The benefit is to your ex.
Not on the actual mortgage, just some paperwork online that says I am considered the buyer. Something for the Kentucky Deed.

I have no ex. We are very happily married. And plan to remain that way until death do us part.
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Old 04-21-2011, 05:26 PM
 
Location: Boise, ID
8,046 posts, read 28,361,013 times
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I'm curious what the source of concern is on this. There isn't really a downside to being on the deed. The downside is being on the mortgage.

We have a similar situation, where our house was purchased using only my income (and lack of debt ), the loan is only in my name, and my husband signed a quit claim at closing so that the title is only in my name. However, I would have no objection to him being added to either the loan or the deed.

As for whether or not both borrowers are on the mortgage, from what you said, it lists both of you as borrowers, so I would assume that answer is yes.

And as for your other question, the answer is yes, Jane can be taken off title by a quit claim deed, even if she is still on the mortgage, but what that would do is remove her rights without removing any of her obligations, which is a bad thing.
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Old 04-21-2011, 05:55 PM
 
Location: wannabeinkentucky
862 posts, read 1,637,064 times
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Quote:
Originally Posted by Lacerta View Post
I'm curious what the source of concern is on this. There isn't really a downside to being on the deed. The downside is being on the mortgage. If something were to happen to me, no liens could be put against the house because of debt only in my name, which is my biggest worry. Secondary is that if something happens to my hubby I "basically" have to do nothing but move out. I'd rather take his life insurance and buy a smaller more managable house, probably closer to family tho I love it here.

We have a similar situation, where our house was purchased using only my income (and lack of debt ), the loan is only in my name, and my husband signed a quit claim at closing so that the title is only in my name. However, I would have no objection to him being added to either the loan or the deed. My hubby has no problem with me being on the loan. Actually it has been hard to convince him this is the best thing to do for his sake. I just don't want him tied to the house for more than the mortgage if something happens to me and he gets transferrred or wants to move to a different house.

As for whether or not both borrowers are on the mortgage, from what you said, it lists both of you as borrowers, so I would assume that answer is yes. On the actual mortgage - which I found after asking this question - my hubby is the only one listed on anything. The document I was talking about is something that was signed at closing. I just didn't know if I could still be taken off of the title.

And as for your other question, the answer is yes, Jane can be taken off title by a quit claim deed, even if she is still on the mortgage, but what that would do is remove her rights without removing any of her obligations, which is a bad thing. Thanks, this helps more than you know. Guess it really doesn't matter what the Kentucky document is that I found and we will forge ahead with the QCD.
Thanks to everybody for your repsonses.
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