Quitclaim Deed Questions?

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I’m in this CRAZY situation and need some serious advice, so all knowledgeble responses are very appreciated.

Here’s the scoop. I own a home in my name and my name only. My boyfriend, who I live with wants a steak in 50% of the home by way of having me sign a quitclaim deed, he says. Now I bought the home when we were still renting together and told him he could stay there with me rent-free if he put in about 10K towards the downpayment and just helped out with the utility bills (which he agreed to) I was making all of the mortgage payments and he just paid utilities and took care of my dog for me while I was at work.

About 6 months ago, I got laid off from my job. I still have investments, but money has been tight and the boyfriend helped me out on making 2 of the mortgage payments this year, in addition to still paying the utilities.

I told him that he needs to pay for his share of the utilities, as well as half the mortgage for a few months until I find another job. He says that he has no problem doing this – in fact, he’s willing to do it forever. He just wants half of the value of the house in his name.

I still have a morgage on the house, so I told him if he wanted to do this – hed have to have half of the loan in his name too. He told me that he didn’t want to do this but that he would get a separate loan and use it to pay off half of mine. However, even though he wants a full 50% of the house in his name, he wants to deduct his down-payment money AND what he’s put in on the mortgage for two months (in other words, we’d each have 50% of the house in our name, but I’d have like 65% of the debt.

Does this sound legitimate on his part and from a legal perspective, are we going to have any problems if one of us ever wants to sell the house. Also, do you think that I’ll have problems refinancing since I don’t have a job? (I did just buy the home a year and a half ago, so I’m hoping that I may qualify for a streamline refinance and that hopefully they won’t verify my income.)

I’m scared and I don’t know what to do. He says that he needs to ‘move on’ if we don’t do this because he’s pissed that I don’t trust him since he paid a 2 months mortgage already and he keeps saying that it’s also not fair that he helped out with the down payment and now has to pay ‘rent’ too. So if I don’t do this, I may lose my home AND my boyfrined.

Thanks for the help guys.

3 Comments
  1. Reply
    wizjp
    April 30, 2011 at 12:23 am

    “don’t put him in title”.

    Period.

  2. Reply
    Janet P
    April 30, 2011 at 1:20 am

    Tell him to go. Honest, if he is not committed enough to stay in a relationship with you without you giving him your house he is not worth your time. Show him the door. He will not stay long term anyway, and will take your house with him if you are stupid enough to go with this.

    After he packs his greedy bags contact your bank, ask for a forebearance since you are out of work. They will give you 3-4 months to find employment and hold off on the mortgage payments, putting them at the end of your loan.

  3. Reply
    Realtoratheart
    April 30, 2011 at 2:06 am

    Ya know what, I got red flags in your first paragraph, and even more in your second. You’ve worked hard to have this place and I see no need for some free loader (sorry) to get even a smidgen of what you own. And that is what a quit claim deed does, conveys ownership. Do not sign one of these forms unless you have legal advise from an attorney. And now for your last paragraph, show him the door and tell him he’s lucky that you don’t let it hit him in the ass on his way out! I’m dead serious.

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