Legal Question in Real Estate Law in Georgia

Refinancing with a divorce

If parties were to refinance property because they got a divorce, and both parties were on title, should a quitclaim deed be filed before or the time of the refinance? Does the quitting party sign the security deed? Does the quitclaim deed remove that party off the mortgage as well?

Please help?


Asked on 1/16/04, 11:38 am

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Refinancing with a divorce

A divorced decree does not bind the lender. The parties will need to refinance, or otherwise pay off the loan, to get either name off the security deed. It is almost never a good idea to quitclaim property when one is still on the security deed and liable for payments. Good luck! In a refinance, the lenders attorney should be able to handle the filing of deeds.

Read more
Answered on 1/16/04, 11:44 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Georgia