Colorado Divorce Decisions blog
A quitclaim deed does not get you off the mortgage (Colorado)
The most expensive misunderstanding in divorce real estate, in one page.
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A quitclaim deed moves your ownership interest to your ex. It does nothing to the promissory note or the deed of trust. You remain liable to the lender until the loan is refinanced, paid off through a sale, or the servicer formally releases you after an assumption. Colorado’s Property and Financial Agreement form (JDF 1115) says it on page one: the lender “is not required to release you from the debt.”
Why it matters
- Your ex’s late payment lands on your credit report. One 30-day late can cost about 100 points.
- The loan counts in your debt ratio when you try to buy again, unless the decree assigns it to your ex and the lender excludes it as a contingent liability.
- If your ex defaults, the lender can pursue you.
The three real ways off
- Refinance in your ex’s name alone.
- Assumption with a written release of liability from the servicer (FHA and VA loans are built for this; many conventional servicers refuse).
- Sale, with payoff at closing.
What to put in the decree
A refinance deadline that a lender has already checked, what happens if it is missed (usually a sale), who pays the mortgage until then, and what happens to the credit if a payment is late. The mortgage after divorce.
Plain-language education from a Colorado real estate group, not legal, tax or financial advice. Numbers are as of September 2026. Disclaimer.
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Divorce Decisions™: Colorado divorce workshops and education. Real estate services provided by The Kenna Real Estate Group at Keller Williams DTC. Not legal, tax, lending or financial advice.