QuitClaim Deed Question...
My friend is in ''separation mode'' in NC. Since his ex was unfaithful, he wanted the divorce. He, however, did not want to uproot or upset their child and therefor formulated a Separation Agreement with the wife. Since she wanted to stay in the marital home, he agreed to do a QuitClaim Deed. The clause reads ''
Upon the execution of this Agreement, Husband agrees to, by quitclaim deed, convey his interest in said property to Wife subject to the existing note and deed of trust encumbering the property, the balance of which Wife assumes and agrees to pay. Wife agrees to refinance said property within ninety (90) days of the signing of this agreement. Wife shall indemnify and hold the Husband harmless there from. Wife further agrees to assume financial responsibility for the mortgage on the marital property beginning the 1st day of January, 2009.''
Needless to say, she has yet to refinance. This is preventing him from obtaining a dwelling that he feels is well suited for their child to come visit in for the entire summer. What can he do?