If you and your spouse are getting a divorce, there is the question of what to do with your Kansas City mortgage. If it is decided that you will be taking on the mortgage, you will need to take your ex-spouse’s name off of it as well as the deed to your home. To do so, you will need to file a quitclaim deed.

What Are Quitclaim Deeds?

A quitclaim deed is simply a deed that releases a specific person from interest in a property. It also prevents said person from later claiming that they have an interest in the property when they do not. Quitclaim deeds are different from general or special warranty deeds in that they contain no warranties of title at all.

Warranties of title guarantee that a party has the right to transfer a property and that an ex-spouse or agencies like the IRS has no claim to the property. If an ex-spouse tries to make a claim on the property, you are legally protected.

Quitclaim Deeds Don’t Release You from Mortgage Obligations

When filing for a quitclaim deed to take you or your ex-spouse’s name off of the property deed, be aware that that does not mean you will be released from the obligations of your Kansas City mortgage. Quitclaim deeds have no impact on mortgage obligations. They merely remove your name from the deed.

If your ex-spouse gets the home and your name is removed from the deed without also being removed from the mortgage, you can still be held responsible if your ex-spouse doesn’t make payments. If you find yourself in this situation, talk to your lawyer to review your divorce agreement and see if an indemnity clause was included.

Where Can You Get a Quitclaim Deed?

Like a property deed, you can generally draw up a quitclaim deed yourself or use a template. However, it is recommended that you have a lawyer present so you do not accidentally sign any of your rights away.

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