Quitclaim, Warranty or both

freemanblack · Joined: 07 Feb 2008 Posts: 1 1.27 Dollars($)

If I want to take my name off the title of the house but keep the mortgage in my name nly (as it now is), which type of deed do I need?

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi freemanblack,

Actually the mortgage should be on the property owner's name. So I think the lender will not approve you to quitclaim until and unless your girl friend take the mortgage on her name.

In spite of that if you quitclaim to your girl friend without the lender's approval, he may claim the due mortgage in full under 'due on sale' clause.

Feel free to ask if you have any further questions.

Thanks.
Larry

blue · Posted: Fri Feb 08, 2008 4:57 pm Post subject:

Hi,

I have given answer of an similar query at http://www.mortgagefit.com/deed/name-offtitle.html#44030

Please have a look of it.

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