I was divorced a long time ago and last week, when my ex tried to get an equity loan, my name came up on the deed.
It is WA. state, and my concern is if I sign the exemption and quit claim will it be enough to protect me? An attorney where I live seems to think I should be compensated, and that begs the question, how much?
As I understand it, I could be held responsible for payments if he should die or file bankruptcy. What is the safest way to go without hiring an attorney in WA? I am in KC now so that would be a challenge.
whether or not you are responsible for payments, etc depends whether or not you are on the mortgage. perhaps he did a refi “a long time ago” and you are no longer on the mortgage.
whether or not he “owes you something” depends on how the property was split “a long time ago” in the divorce decree. If he took the property 100% (and you received some other part of the settlement), he owes you nothing and a quitclaim or refi should have been required by the divorce court. Now’s a good time to catch up on that paperwork. If the property was addressed in some other manner in the decree, what you need to do today depends on what, exactly, was done “a long time ago.”
Right now you are only a part owner of a piece of property. You just need to decide if you should be (as a result of the divorce) or not.
PS: attys always think you are owed something. it gives them a chance to litigate and earn $300 an hour.