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stuneseht · Joined: 19 Sep 2008 Posts: 2 1.87 Dollars($)

My mom and I purchased a home together in 2005 and we were both on the deed. However, she refinance and remove my name from the loan, but I am still on the deed. If the loan is in default can I be held responsible because of the deed?

Guest

Hi stuneseht,

You can sign a quitclaim deed and give away all the interest in the property. You can include a life estate clause in the deed to stay until death in the house. I don't think you will be held responsible for the default as your name is not on the mortgage deed any more.

jk9999 · Joined: 15 Jul 2009 Posts: 111 1.82 Dollars($)

no, deed and loan are two different items. Deed is related to the title and loan is related to the obligation. As long as your name is not on the loan, you are not responsible for the loan. If you are still on the deed, you are still co-owner with your mother and has right in the interest. It is up to you whether you will sign the quit claim deed or not, but there is no relationship between the quit claim deed and the loan if your name is not on the loan. Hope this helps

cliveselley · Joined: 23 Jul 2009 Posts: 45 0.00 Dollars($)

i like reply given by Susanne. it covers all the dimensions

Guest

The house is free and clear of all debt or leans I want to give the house to my wife how do i do this without her knowing

eric1 · Posted: Sun Nov 08, 2009 6:42 pm Post subject:

Your answer is here... http://www.mortgagefit.com/problems/removename-refinance.html

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How can I remove my name from a deed