Q: I had to sign a disclaimer deed in Arizona for my husband to get approved for a home loan. Can we revoke this or...
I had to sign a disclaimer deed in Arizona for my husband to get approved for the home loan. We have 3 children together and have be partners for 20 years and married since 2013 and were married when we (he) bought the home from my brother. All money was gifted from the sale from my brother and we didn't use our money. We bank together and run a business together. We have no plans for divorce. I have two questions, number one does this disclaimer deed effect if he dies? Would I have no say in keeping the house? Second how do we void the disclaimer deed. He called the bank and asked and they had no clue. Is there a way to void this with another document? We looked into a transfer of death paper but what will protect me as his wife.
A: This is a common situation and there is an easy solution. Your husband can sign a special warranty deed from him to both of you taking title as community property with right of survivorship. This will solve the problem created by the disclaimer deed and will give you more protection in the event of a death or a divorce. I recommend that you have this deed professionally prepared. It must be done correctly to obtain the benefits needed.
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