Primarily servicing the greater New York City metropolitan area



LEONARD M.WEINER, ESQ, Ph.D.
DIVORCE SOLUTIONS
206 East 38th Street
New York, N.Y. 10016
(212) 370-1660

FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY

Question #289:

My ex-wife and I divorced in Louisiana in Dec 2011. She remained in the home we jointly mortgaged. We still live in Louisiana and in the divorce decree we were granted an equal and undivided one-half interest in all community property. (blanket statement…non specific) I recently attempted to seek financing for another home but was denied as I am still liable for the previous home. So I asked my ex-wife to refinance the home in her name and I would not seek my interest in the home until she sells it otherwise. Now at the closing bell, she has presented me with a Quitclaim deed which reads: “(me the seller ) who declared that for and in consideration of the price of One And 00/100 Dollars ($1.00), cash in hand paid, receipt of which is hereby acknowledged by Seller, and full acquittance and discharge therefore given, Seller does hereby sell, transfer, assign, quitclaim, remise, release and relinquish unto Purchasers, all of the rights, title and interest which said Seller has or may have in and to the following described property.”

If I sign this quitclaim deed, do I relinquish my rights to the divorce decreed equal and undivided one-half interest in all community property, namely my interest in the home?

Answer:


Do not sign the Deed! You will be giving up your rights to receive any proceeds from the sale of the property.
If you wish you may agree upon an amount that you believe you should get from the sale of the house and
Have your spouse sign a promissory note for that amount plus interest until paid ( all due at the time the house is sold –set some outside date by which the house must be sold) and have her sign a second mortgage which you will file With the County recorder’s office. Then you may transfer title to her.

Good luck!

Leonard M. Weiner, Esq./ Divorce Solutions
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