Legal Question in Real Estate Law in Arizona
quick claim
SECOND REQUEST.....
i recently went thru a divorce
and the property (mobile home) was quick claimed to me....
HIS (my x) name is still on the loan as his credit was better than mine... I now have the home for sale and my question is, IF someone came up with he equity i put down on it, can i quick claim the property to them????? i just want my $ back & out!
1 Answer from Attorneys
Re: quick claim
Yes. However the purchaser will lose the home if they don't continue to make the payments and your ex-would be personally responsible for any deficiency in the event of foreclosure. Also, the lender may have the right to accelerate the loan in the event of title transfer, but you would have to read the loan documents to find out if that is the case. In reality, even though they may have the right, if they are being timely paid, they usually don't exercise the right.
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