Maryland | Real Estate Law
6/29/04, 6:11 pm
Legal Question
quitclaim deed from husband to wife
My husband wants me to have 100% ownership of our home. We hold title as joint tenants by the entirety. We have a fixed-rate mortgage at 5.5% (no 2nd trust or home equity line). He proposes to give me a quitclaim deed relinquishing all rights to the home. He does not want to be removed from the mortgage or title and we are married - though we have discussed a divorce. If I record the quitclaim deed, can my mortgage company call due the loan? I do not wish to lose my good mortgage rate. Do you see any problems with this arrangement? Thank you!
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