Since California is a community property state, if you are married, you and your spouse own everything equally, and she would be entitled to 50% of any real estate you own, even if you buy it by yourself and she is not on the loan. Because of this, the lender will require her to sign off and give up any interest or claim she has in the property - she does this by signing the quitclaim deed, which will transfer any interest she has in the property to you, and you would then own it as your "sole and separate" property. To answer your question about the vesting worksheet, you would put your wife's full name she will be the one executing the deed.
Hope this helps - good luck with your purchase!
John Barry, Realtor
Coldwell Banker Residential Brokerage
By giving such a deed, the person is simply transferring his interest in the property and is making no claim as to the interest another person may have in property. A quitclaim deed does not guarantee that the property is free of debt."
Read more: What Is a Quit Claim Deed? | eHow.com http://www.ehow.com/about_4600361_what-quit-claim-deed.html#
A quitclaim deed is a legal instrument by which the owner of a piece of real property, called the grantor, transfers any interest to a recipient, called the grantee. The owner/grantor terminates (“quits”) any right and claim to the property, thereby allowing claim to transfer to the recipient/grantee.
A quit claim deed is a legal paper that clears title to a property. It is used to both add persons to title and to take them off of title or to keep them off of title. In this case, the lender is requesting that your spouse execute a quit claim deed stating that she has no legal interest in the property that you are purchasing with your brother-in-law.
The name that needs to go on the quit claim deed is your wife's legal name. The quit claim deed will need to be notarized so be sure that the name you provide is also the name that is on your wife's driver's license, passport, or whatever legal document she will be providing to prove her identity to the notary. For example, if her driver's licenses states Susan Jones, then use "Susan Jones." If her license states Susan S. Jones, then use "Susan S. Jones." Do NOT use Susan S. Jones if her license states Susan Jones as the notary will not be able to confirm the middle initial from the license.
Good luck with your transaction.
Realtor and Mortgage Officer
ERA Buy America Real Estate Services
A Quit CLaim is just what the name implies. It is a document signed by a party who could otherwise have an interest in a piece of real property in where said party is giving up any claim to the property.
Unless your wife signs the quit claim, she will have an interest in the home, (50%) of your ownership in the home.
In California any property purchased by either spouse during the marriage is community property. It does not matter if your wife is on the loan or if you put her on the title.
Best of luck to you!
Kawain Payne, Realtor
Your Escrow Officer will do this for you. They will draft up the document with your wife's name and she will need to sign it with a Notary. I do not know why you would need an attorney for this, unless there is some dispute or you like to spend money.