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Can a loan signer quit 100% of the Grant Deed?

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smiledoessmile Guest	Posted: Sat Jan 03, 2009 9:22 pm    Post subject: Can a loan signer quit 100% of the Grant Deed? Like 0 Dislike 0 My friend and I bought a property together in California. I have 50% interest of the Grant Deed. I am the only person who signed the loan. The property is still half not being paid yet. Can I quitclaim my 50% of interest while my friend will continue to pay the loan? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
Niicss Joined: 03 Oct 2005 Posts: 4831 Location: New Jersey 508.39 Dollars($)	Posted: Mon Jan 05, 2009 2:14 am    Post subject: Like 0 Dislike 0 Hi smiledoessmile If you quitclaim your portion of the property to your friend then the friend needs to refinance the property in his name. This is because the lender will want the mortgage should be in the name of the person who owns the property. Thanks _________________ Good is the Enemy of Great.

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