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In California, a community property state, both spouses have equal rights to any property acquired during marriage, regardless of whether they're listed on the deed or mortgage. A quit claim deed allows the granter to transfer their interest in a property without guaranteeing the value or condition of that interest. Importantly, even if a property owner files a report to credit bureaus, a late mortgage payment is necessary to impact credit negatively. Signing a quit claim deed relinquishes ownership rights but does not absolve one's financial responsibilities; individuals remain liable for mortgage payments despite being removed from the property title.