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Ask David C. Garner Your Own Question
David C. Garner
David C. Garner, Attorney
Category: Legal
Satisfied Customers: 1041
Experience:  JD with Distinction, Admitted to practice in California
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In the state of Oregon does anything besides a quitclaim

Customer Question

In the state of Oregon does anything besides a quitclaim need to b signed like a spousal release of liability or pre-Lim change of ownership ?
Submitted: 11 months ago.
Category: Legal
Expert:  David C. Garner replied 11 months ago.

Hello,

I will try and help. Can you tell me a little more about what is going on or what you are planning for?

Thanks!

DCG

Customer: replied 11 months ago.
Looking to take husband off title. Also need to know how to hold title if we want me to have soul possession of home
Expert:  David C. Garner replied 11 months ago.

Hello,

That is a fairly complicated matter, but you should be able to do this by executing an inter-spousal grant deed where you (and especially he) confer the property to you as your sole and separate property. There are also tax considerations. There is a good resource here: http://www.divorcenet.com/resources/divorce/marital-property-division/interspousal-transfer-grant-deeds-vs-quit-claim-deed

After this process you would hold title in your name only, as your sole and separate property.

I hope this helps.

DCG

Customer: replied 11 months ago.
Is there tax considerations if no money is exchanged?
Expert:  David C. Garner replied 11 months ago.

Hello,

No tax considerations should be involved if you go the interspousal route.

DCG

Customer: replied 11 months ago.
For an inter spousal transfer deed does the person being removed from title still have liability of loan if both parties r on loan?
Does lender get notified?
Customer: replied 11 months ago.
Is there tax consideration even if no money is exchanged w/ quitclaim?
What if it's not recorded?
Expert:  David C. Garner replied 11 months ago.

Hello,

With a quitclaim deed you are probably still good because it is an interspousal transfer, but I would be sure to record it. To be sure you might want to check with a tax advisor. As far as the loan, that is a different matter. The lender does not need to be notified because their lien is against the property itself. Further, a deed change takes the person's name off the property. They are still liable on the loan. To get that person off the loan, it would have to be refinanced.

Best of luck to you.

DCG