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I have a question about quitclaim deed and divorce,seperation on a joint house.Hi

Submitted: 10 months ago.Category: Family Law
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Customer reply replied 10 months ago
Hi
My 2nd question is about quitclaim deed. My husband agrees to quitclaim deed our house and I will be a sole ownership.
Homestead exemption is $75,000 single. Does homestead have any window to be effective? For instance, home owner must reside at least 2 years at primary residence to be protected by homestead exemption?How does quitclaim deed work in divorce? I live in California and community property states.
Husband agrees to sign to quitclaim deed. Does it mean if home is sold after divorce later on, sold money can be community asset according to California states law? or Since he signs to give up interest, can it be a sole owner's asset?I am just curious of these above...I think I may sell before house values up so there may no big assets...Could be a just break-even, but, I want to know since my own money put in home purchase.Thank you
Answered in 17 hours by:
8/2/2017
Family Lawyer: S. Kincaid, Family Law Attorney replied 10 months ago
S. Kincaid
S. Kincaid, Family Law Attorney
Category: Family Law
Satisfied Customers: 2,567
Experience: I have practiced family law since 1996, focusing on child custody and domestic violence
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While there is a residency requirement for a homestead, you do not need to own or live in the home for any specific period of time to get the exemption. Usually, a quit claim deed divest the signer of any interest in the home. However, in the case of divorce, there are situation where the court can still award the home's value to the person who signed the deed. You can't be sure until you enter a settlement agreement or a divorce judgment that assigns the home to you as your sole and separate property.
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Family Lawyer: S. Kincaid, Family Law Attorney replied 10 months ago
Where are you in the divorce process?
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