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My ex wife and I signed a divorce decree stipulating that I have ownership of the house where she will receive $2,500 upon my sale of the house. The bank says I need to have her sign a quit claim which she says she will only do upon me paying her a certain amount of money. Am I required by law to pay her for a quit claim since the divorce decree left the house to me?

I would think that you would only have to pay what your divorce papers say. Here are some resources for your state, you may want to consult an attorney to remind her of the order: Link.

" Am I required by law to pay her for a quit claim since the divorce decree left the house to me?"

No, and if your information is accurate, her demand may fit under the definition of extortion.

I would assume that she is thinking she would not do that until she got her $2500 after the sale, but this is not how it works. If the divorce decree says that she will transfer ownership to you and then you will pay her this amount after the sale, then that is exactly what must happen. She probably fears that once she signs the quit claim that she will not see the $2500. But, it is agreed in the divorce decree and you must follow that. The quit claim is just a legal instrument that allow transfer of the property without any tax liability during the exchange as a result of the divorce.

The bank is probably just interested in getting her name off the house. If they are going to refinance in your name alone, they don't want another possible owner being able to control the house other than you. But since you are selling the house it shouldn't matter.