Estate Law

Estate law questions? Ask an estate lawyer.

Ask a Lawyer,
Get an Answer ASAP!

This answer was rated:

My husband has been making some really bad financial decisions…

My husband has been making...
My husband has been making some really bad financial decisions re. credit cards, loans, etc. My main worry is how to protect the house. He has agreed to sign a quitclaim or interspousal transfer (and/or a legal separation). My worries are tax consequences and I have heard that these type of deed transfers can trigger your mortgage lender to demand loan payment in full (He has been the sole breadwinner for some years now and, although I would be able to handle the payments via savings and eventually get a job I could not pay in full). Please advise the best route to pursue to save my house. Thank you.
Show More
Show Less
Ask Your Own Estate Law Question
Answered in 16 minutes by:
6/26/2010
Daniel P.
Daniel P., Attorney
Category: Estate Law
Satisfied Customers: 2,742
Experience: I have my own practice in Sarasota, FL- Estate Planning, Medicaid & VA law, Probate & Family Law
Verified

Thank you for entrusting me with your legal issue. I will work diligently and quickly to answer your questions. I look forward to assisting you.

 

Are you both on the mortgage?

Ask Your Own Estate Law Question
Customer reply replied 8 years ago
Yes.
Then there won't be any problem quitclaiming the property so that it is just in your name. There are no tax consequences for transfers between spouses.
Ask Your Own Estate Law Question
Customer reply replied 8 years ago
What about my mortgage? Can my lender demand payment in full because my husband is no longer on the deed (and I have no job and will not have one for a few months)?
I can't answer that without actually reading your mortgage that you signed. Each one is different. However, so long as he remains on the mortgage they do not care that he is no longer on the deed. They realize that you would not have the funds to pay the mortgage in full and would rather just keep the status quo then force a foreclosure action on you.
Daniel P.
Daniel P., Attorney
Category: Estate Law
Satisfied Customers: 2,742
Experience: I have my own practice in Sarasota, FL- Estate Planning, Medicaid & VA law, Probate & Family Law
Verified
Daniel P. and 87 other Estate Law Specialists are ready to help you
Ask your own question now
Customer reply replied 8 years ago
Thank you =)
You're very welcome!
Ask Your Own Estate Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with an estate lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Daniel P. Your Own Question
Daniel P.
Daniel P.
Daniel P., Attorney
Category: Estate Law
Satisfied Customers: 2,742
2,742 Satisfied Customers
Experience: I have my own practice in Sarasota, FL- Estate Planning, Medicaid & VA law, Probate & Family Law

Daniel P. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

My husband has been driving me insane with questions regarding estate issues since his mother died. I'm not a lawyer! Thanks to JustAnswer, I was able to calm his concerns.

Loretta TIllinois

Thanks Adam!! - A very direct and understandable response - you have been a great help!

Happy CustomerEllicott City, MD

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

< Previous | Next >

Meet the Experts:

Thomas McJD

Thomas McJD

Attorney

3,170 satisfied customers

Wills, Trusts, Probate & other Estate Matters

Barrister

Barrister

Attorney

5,908 satisfied customers

17 yrs estate law, real estate. Wills/Trusts/Probate

RayAnswers

RayAnswers

Attorney

5,629 satisfied customers

Texas lawyer for 30 years in Estate law

Infolawyer

Infolawyer

Attorney

5,145 satisfied customers

Licensed attorney helping individuals and businesses.

Ely

Ely

Counselor at Law

1,867 satisfied customers

Fully licensed attorney in Texas in private practice.

RobertJDFL

RobertJDFL

Attorney

1,522 satisfied customers

Experienced in multiple areas of the law.

P. Simmons

P. Simmons

Attorney

1,215 satisfied customers

12+ yrs. of experience including estate law.

< Previous | Next >

Related Estate Law Questions
As trustee I want to transfer title of house out of
As trustee I want to transfer title of house out of irrevocable trust to beneficiaries for a home in California exemption of tax reassessment Parent to Child form has already been done. I as one of th… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,908 satisfied customers
I inherit my moms home. I am successor trustee and sole
I inherit my moms home. I am successor trustee and sole beneficiary. I do not have income to assume or refi loans so how can I take over her loan as is? I filled out the name change packet for lender … read more
Ely
Ely
Counselor at Law
Juris Doctor
1,867 satisfied customers
How can I go from being estate to get my name on the
how can I go from being estate to get my name on the mortgage as a benificary … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
My husband and I bought a home 10 years ago (we have a 30 yr.
My husband and I bought a home 10 years ago (we have a 30 yr. mortgage). We live in CA. I separated from him and moved out of our home approx. 5 mos. ago. Our agreement was that he would remain in our… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,908 satisfied customers
Is there a way that a married person can purchase a house in
Is there a way that a married person can purchase a house in the state of Florida and not put the spouses name on the deed? The person buying the house is the only one with credit and is using inherit… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,908 satisfied customers
My parents died intestate and my siblings and I have already
My parents died intestate and my siblings and I have already settled the estate between us. If I file an Affidavit of Heirship it will transfer the house to me and my siblings. Can i then file a Quitc… read more
RayAnswers
RayAnswers
Attorney
Doctoral Degree
5,629 satisfied customers
wife currently owns and has mortgage by herself. Wants to
wife currently owns and has mortgage by herself. Wants to refinance and add husband. Objective how to change deed so that if husband or wife dies, the other owns the property. How to set up mortgage s… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,908 satisfied customers
I quitclaimed my sister onto my property (no money exchanged)
I quitclaimed my sister onto my property (no money exchanged) and now she is quitclaiming herself off the property. Will this cause a reassessment of the property taxes?… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,908 satisfied customers
My mother owns her home, and we (her 2 daughters), want to
My mother owns her home, and we (her 2 daughters), want to avoid any issues that may arise from her death and selling the home afterwards. This would include the expense of a probate lawyer. What can … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
My husband and I co-signed on my daughter and son-in laws
My husband and I co-signed on my daughter and son-in law's house. How do I get off of this? Also, it was suggested to me to get a quit claim. How does this work?… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,908 satisfied customers
A home under a reverse mortgage is worth less than the payoff
A home under a reverse mortgage is worth less than the payoff amount. The owner recently passed away. No family member wants anything to do with the property except to dispose of it as soon as possibl… read more
socrateaser
socrateaser
1,031 satisfied customers
My father has a living trust in which I am the Primary Trustee.
My father has a living trust in which I am the Primary Trustee. We would like to put his house into the trust with him being able to live in the home until he dies, at which time I would leave the hou… read more
Thomas McJD
Thomas McJD
Attorney
Doctoral Degree
3,170 satisfied customers
In order to obtain a revocable trust and fund it, does the
In order to obtain a revocable trust and fund it, does the house have to be free and clear of any mortgage. I was told by an attorney that my only option was to have a will because if I filed for a re… read more
Attyadvisor
Attyadvisor
Doctoral Degree
8,365 satisfied customers
My grandmother wants to save her home. She shared her home
My grandmother wants to save her home. She shared her home with her son for the last eight years and he died in 2011. The home had already been paid off but Her son took out a loan on the equity . He … read more
Dave Kennett
Dave Kennett
Doctoral Degree
25,741 satisfied customers
I am the ececutor and sole beneficiary of My Uncles Estate.
I am the ececutor and sole beneficiary of My Uncle's Estate. He died in 2003 and I have been managing the estate which remains legally open. The only remaining asset is real estate with a small mortga… read more
Dave Kennett
Dave Kennett
Doctoral Degree
25,741 satisfied customers
I need some help regarding warranty deeds, deed of trust and
I need some help regarding warranty deeds, deed of trust and title insurance. The situation is that one of my neighbors wants to move and they haven't finish paying for their mortgage in the house, so… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,908 satisfied customers
My sister get the house(took a loan on her name) for me.I put
My sister get the house(took a loan on her name) for me.I put down payment and paid closing cost.I live in this house over 2 years paying mortgage on my sister name. Right now i want to sing this hous… read more
Dave Kennett
Dave Kennett
Doctoral Degree
25,741 satisfied customers
My husband and I own a secondary property in Indiana that ...
My husband and I own a secondary property in Indiana that is in foreclosure. If I quitclaim the property over to him will this clear up my credit? Does he just get ownership of the property or will th… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x