March 21st, 2016 at 6:26 pm
Answer: Yes. A quitclaim deed transfers any and all ownership interest someone may have to another person. If the wife signs a quitclaim deed, the husband can eventually use it as evidence to show that she released and relinquished all ownership interest she had in the property. Perhaps he can even bolster his claim if, for example, the down payment for the home was a gift from his parents, which is presumed to be his separate property under community property law. Of course, the wife would attempt to refute his claim by arguing that their intent was to use the quitclaim deed for the sole purpose of qualifying for a loan, not giving up her community property rights. However, she would have been much better off if they had a signed agreement between themselves memorializing that intent. In any event, this is just one of many complex issues that may arise concerning holding title, and a good reminder for agents not to advise clients on how to take title to property.
Like what you see here? Sign up for more! Our free e-newsletter informs you of listings in your community, insider real estate tips, the latest in home trends, and more.
