What are you looking for? 

What type of Quitclaim form do we need?

Author Message
GKoehn

Guest







0.10 Dollars($)

PostPosted: Fri Nov 09, 2007 1:34 pm    Post subject: What type of Quitclaim form do we need?

There are 3 parties listed on the deed.

Brother#1 Has mortgage in his name only.
Brother#2
Brother#3

Brother#2 and Brother#3 wish to remove their name from the title.
Would a form titled "California Quitclaim Deed - Two Individuals as Grantors" do the job.

Will this allow Brother#1 to be the only on on the Title?

Should Brother#1 refinance, Will Brother#1 be the only required signer to release title to Bank?
 
image
Rosetta

Guest







0.10 Dollars($)

PostPosted: Sat Nov 10, 2007 12:00 am    Post subject:

Hi Gkoehn,

I think the ' Two Individuals as Grantors ' form has to be used when there are two owners. But in your case, you have three names as owners out of which two will take off their name.

I guess a general quit claim form will work where you list all the three names as grantors.

Brother1 will be the sole owner of the property if the others quit claim all their interest in the property.

Since brother1 is the only person on the mortgage, he is not required to refinance it.
 
image
Icon Mini Profile jenkin7



Joined: 04 Jun 2007

Posts: 887



132.55 Dollars($)

PostPosted: Sat Nov 10, 2007 3:25 am    Post subject:

Hello GKoehn,

I think a general quit claim deed will serve the purpose. You have to put all the three names as grantor and put brother#1's name as the grantee.

You will find a California quit claim form here http://www.saclaw.lib.ca.us/Uploads/files/Quitclaim%20Deed.pdf?size=30 9707

Hope this helps you.
 
image
Michel

Guest







0.10 Dollars($)

PostPosted: Sat Nov 10, 2007 3:30 am    Post subject:

Hi,

First of all, brother1 does not have to refinance as he is the only person on the mortgage. Even if he wants to do so, he is the only person required to sign all bank documents.
 
image
Quick Reply
Your Name
Subject
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Ask Questions
Community Attorney
Joshua Heard - Attorney Joshua Heard
Houston, Texas






 
Highlights
Helpful References
Mortgage Terminology
Industry News
Book Center
Mortgage Guide
Shop and Compare lenders

Community Rewards
Five simple ways to earn money with the Mortgage Community.

New and upcoming tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool

 
About Us  | Contact Us  | Privacy Policy  | Testimonials  | Website Tools  | RSS Feeds  | Site Map 
We have chosen to apply the Creative Commons Attribution License to all works we publish.
This work is licensed under cc by 2.0