Posted by AngelinaAZ on 6/9/06 10:25pm
Msg #125057
Title question regarding 'sole and separate property'.
I had a signing where the husband brought a property into a marraige (they were married last year) and wants to re-fi. The wife is not on title and ABSOLUTELY REFUSED to sign the disclaimer deed.
Can this still close or does the disclaimer deed HAVE to be signed? The TC rep talked to the wife at length and still she wouldn't sign... she wants to be on the property. The hubby says 'no'. I know that even though AZ is a Comm. Prop. State, since he brought the property in, he can keep it as sole and separate. Does a re-fi put it into a different ballpark? I'm just curious...
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Reply by AngelinaAZ on 6/10/06 4:52pm
Msg #125164
From my understanding...
... and please note that this is my interpretation of the document, it is very similar to an ordinary quitclaim with a few additional things that FORMALLY STATE that the spouse HAS NO PAST OR FUTURE CLAIM to the property. It very well may be a form of quitclaim, but it is called a Disclaimer Deed. And yes, I think it is an Arizona thing.
And as far as I know, a disclaimer deed cannot be used to transfer title (add people on or take people off) like a quitclaim can. It is more of just a statement of record.
Here's the wording if you are curious...
**********************************************
DISCLAIMER DEED
WITNESSETH THIS DISCLAIMER DEED, made by
hereinafter called "the undersigned" to
hereinafter called "the spouse";
WHEREAS:
1. The spouse has acquired an interest in the following described property situated in ______________________ County, State of Arizona, to-wit.
2. The interest in the property above described is the sole and separate property of the spouse having been purchased with the separate funds of the spouse.
3. The undersigned has no past or present right, title, interest, claim or lien of any kind or nature whatsoever in, to or against said property, or any security instrument affecting said property.
4. This instrument is executed not for the purpose of making a gift to the spouse, but solely for the purpose of clearly showing of record that the undersigned has and claims no interest in and to said property.
NOW THEREFORE, in consideration of the premises, the undersigned does hereby disclaim, remise, release and quit-claim unto the spouse and to the heirs and assigns of said spouse forever, all right, title, interest, claim and demand which the undersigned might appear to have in and to the above described property.
Dated this ______ day of __________________, 20_____.
__________________________________
__________________________________
STATE OF)
)ss.
County of)
This instrument was acknowledged before me this _____ day of _________, 20_____, by
____________________________________
Notary Public
My commission will expire:
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Reply by ReneeK_MI on 6/11/06 4:26am
Msg #125214
Was this woman a co-borrower?
Interesting document - seems like it is reiterating her position as it stands, not changing anything at all, just putting it all down on paper as it would appear to stand at this moment.
What I'm thinking is that if she were co-borrowing, then it would give a little credence to her suggestion that he, the husband, get his own freakin Dr. Pepper ....
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Reply by AngelinaAZ on 6/11/06 5:40pm
Msg #125290
Nope... not a co-borrower. But she SURE wanted to be on Title! There's a lot more to the story that I won't bore you with, but the only thing that I became reasonably sure of during the time I was there, was that she was completely unreasonable when it came to what she felt she was entitled to.
What I want to figure out is, are these deeds (disclaimer or quitclaim) 'mandatory' or just 'lender preference' for their own protection???
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