Wow, Quick Deed for $5000.oo sounds great! However, that court decree thing would bother me.
I would seek the advice of an attorney.

Make sure you carry your divorce papers with you when you go see an attorney. I have a good feeling that all the rules will lie there in what is suppose to happen to the house.

Hello Ginger
If your original arrangement in your property settlement required that you leave your husband's name on the property deed, and if the value of the equity at that time was $5000...then you can easily arrange a transaction to have him sign a quit claim deed so that he is no longer on the deed. I guess it will really depend mostly on the value of the home's equity at the time of your divorce and what it is worth to you to get his name off of the deed. If the equity was not worth that much, then maybe he is willing to negotiate. In any case, you will need to consult an attorney regarding length of time in a home vs a divorce property settlement's requirements.
my best
Connie

Call a Real Estate Attorney, there are many around!!
It is best to get it from the horses mouth, instead of "if's or maybe's." Then you would know for sure.

Thank you,
Amy

Ginger
Thank you for your question.

We are not attorneys. IMHO you are asking legal advice. I would consult with an attorney and I would pose the question as openly as possible. Something like, "I live in a home that I purchased with my ex-husband 13 years ago. I plan to remain in the home for the foreseeable future.

"My ex has asked me to give him $5,000 for him to quitclaim his interest to me. What are my options? What should I be concerned about?"

My concern is that the quitclaim potentially may cause issues in the eventual sale of the property. Also, how did he arrive at the $5,000 figure? Is that a fair price?

Best of luck to you!
Keith

well, i think that this is a great question for your attorney. this one is beyond the boundries of our license. so sorry but if you like you could give our closing attorney a call....her name is shannon williams and her office number is 662-895-9000. she is located in the snowden grove complex next to mesquite chop house in southaven. good luck!

ricky lewis
keller williams realty

I would quick deed for the $5000.00...after I first talk to an attorney licensed in Mississippi...Miss law can be quirky with issues such as these, for periods of time over 5 yrs....

The problem may arise that you pay an attorney $10K to not pay the $5K.....so the $5K maybe a good alternative...so really, first off go see a REAL ESTATE attorney for an initial consultation who can best advise you.