Quitclaim Deed Divorce Mistake: Dave Ramsey Exposes Common Legal Error

Financial expert Dave Ramsey recently highlighted a common mistake in divorce settlements. Many couples, advised by their attorneys, use quitclaim deeds to transfer property ownership. However, Ramsey warns that this can leave the transferring party liable for the mortgage even after the divorce. "Most divorce attorneys make a huge legal error," Ramsey stated in a recent video. He detailed a case where a husband quitclaimed his share of a house, only to find himself still responsible for the $260,000 mortgage years later when he remarried and wanted to buy another home. This situation underscores the importance of seeking expert financial advice during divorce proceedings to ensure a financially sound settlement. Ramsey's advice serves as a cautionary tale, reminding individuals to carefully review all legal and financial aspects of divorce settlements to avoid long-term financial burdens.