Should I sign Quit Claim?

2ndChance_1stMistake · 2023-04-05T11:39:59+00:00

Wait until the $$$ is in your account. Then transfer it to another account at another institution.

Then sign.

guy_n_cognito_tu · 2023-04-05T11:53:38+00:00

I would absolutely, positively NOT sign until the funds have cleared.

Adventurous_Tie_4464 · 2023-04-05T12:18:52+00:00

Under no circumstances do you sign until the money is secured. No circumstance.

ScootM6 · 2023-04-05T12:50:49+00:00

I'm going through this now trying to buy my ex out of the house. My lawyer explained we will give a cashier's check to the title company, then the title company gives it to the ex when she comes into their office & signs the paperwork. That way she gets the $ right when she signs the quit claim paperwork.

Kenuven · 2023-04-05T13:43:13+00:00

Would you sign the title on a car before you received the money?

rsmiley77 · 2023-04-05T14:58:46+00:00

I just reread up on quit claims…. DO NOT do it. Your stbx needs to refinance the home. You can still be held responsible for the debt of the home with a quit claim… it only really gives her the right to sale or make decisions on the home without your permission.

HowManyBobs · 2023-04-05T17:29:28+00:00

I used an existing account in the same bank. I found out later - after it had been drained - that my ex had access to that account and simply transferred the funds to a 'mutual' account and then withdrew all of it.
So I opened a new account in a bank we didn't use previously and managed financing the rest the proceeds through that account.
I was naive and thought we were both wishing the best for each other. 'We' were not!!

sicrm · 2023-04-05T12:52:37+00:00

here’s a simple way to thing about situations like this, what’s the incentive for the other side to give you money once you sign the claim?

that answer will answer your question.

sure you could possibly get your money through the courts but that’ll take money and time.

futureofthefuture · 2023-04-05T13:31:30+00:00

So the QDRO involved 401k funds. The QDRO requires a judge to sign off on it for the funds to not be taxed. This means it won’t get signed until the divorce is finalized. This is happening to me. I was half cash half QDRO. I signed the quitclaim after I got all the cash. The QDRO funds are part of the divorce decree. They have 60 days after the divorce is finalized to remit the funds. If they don’t, they void the divorce order and at that point negotiations could begin again.

ranger69danger · 2023-04-05T13:33:23+00:00

Do not sign until you get the money.

jimsmythee · 2023-04-05T13:40:31+00:00

Do not sign anything until you have cash in hand.

AirSailer · 2023-04-05T13:47:04+00:00

Watch out for the QDRO taking a LONG time to be executed. Mine took almost 6 months. If something happens to you during that time and you have signed the quitclaim then it's hers.

Additionally, some brokerage firms will take out taxes, and they all calculate it differently, so she might not get exactly what she expects.

Do not sign the quitclaim until you have that money in your account and cleared.

throwingit_all_away · 2023-04-05T14:42:16+00:00

Execute a quit claim deed and give it to your attorney. Tell your ex that upon proof of funds your attorney has been directed to release the deed to your attorney.

WartimeDad · 2023-04-05T17:04:17+00:00

I suggest waiting until it’s in the account. That’s what I did, anyway.

CommanderOfCheese45 · 2023-04-05T22:07:58+00:00

Don't sign it until you have the funds.

iamnotyoutoday · 2023-04-08T14:13:47+00:00

pretty sure everyone will counsel you to wait until you secure the funds BEFORE signing anything.

godolphinarabian · 2023-04-15T00:26:56+00:00

This is a a refinance so this should be happening through the bank and the title company. Technically the money will NOT be in your hands when you sign the quitclaim, however the deed is held in escrow. So after all the curing and waiting periods are done, you have your money at the same time the deed is released to your spouse.

There is a lot of fear mongering in this thread. This is a refi on a mortgaged property not a pure cash exchange. The bank owns the house so neither of you should be giving each other cash or deed directly.

Escrow is your friend. The deed is held in escrow on condition of your equity payment. You may sign an additional document that states this. If the bank is very small they may not have a partner title company, in which case your attorney holds the signed deed in escrow until you are paid.

Did you have an attorney? Typically they add language about deed escrow in refinance clauses.

Title	Should I sign Quit Claim?
Author	PoppinPMAGs
Upvotes	12
Comments	33
Date	April 5, 2023 11:25 AM UTC (3 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/12ch35b/should_i_sign_quit_claim/
Archive Link	https://theredarchive.com/r/Divorce_Men/should-i-sign-quit-claim.1213052 https://theredarchive.com/post/1213052

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