Subject:Quit claim deed

moja42 · Joined: 22 Mar 2006 Posts: 1 0.13 Dollars($)

If my daughter qucik claim the property in our name, can we refinance the property under our name after the quick clain deed is recorded.

Guest 0.10 Dollars($)

No, as the deed conveys the rights or interest in the property. It doesnot state the nature of the rights and ownership.

And your daughter still has the ownership.

Guest 0.10 Dollars($)

I think, I have something different to say.

When your daughter is signing the deed, it means she is transfering all the rights and interest to you.

I think now you have all the rights and you can go for refinance.

My be mac got it all wrong.

Samantha · Posted: Wed Mar 22, 2006 9:33 am Post subject:

Hi Moja,

Welcome to MortgageFit Forums.

Recording a deed means that you are keeping it for public reference that all the interest in the property has been transferred in your name.

So, the transfer is officially recorded at that time. You shouldn't have any problem in refinancing the property after that.

But some other financial records of yours will also taken into consideration during refinance. Also, you and your daughter must inform the lender before any property transfer if there is any mortgage due on it.

In case you do not qualify for the terms required for the mortgage with the lender, then the lender may not be willing to allow the transfer and the mortgage will be due immediately.

God bless you.

For MortgageFit,
Samantha

Bill · Posted: Thu Mar 23, 2006 2:36 pm Post subject:

Moja,

I agree with Jenny and Samantha.

As a lender, I would have no problem refinancing the home in your name once you are on title. The refinance would be that of a non-owner occupied property (assuming you live in another primary residence). These mortgage programs do have a slightly higher rate of interest than owner-occupied mortgages.

Hope this helps. Best of Luck!

Guest 0.10 Dollars($)

in the state of florida, can a non-owner(no relations to the owner of the property) sign a quickclaim deed to transfer real property to another person?

jameshogg · Posted: Fri Aug 29, 2008 2:53 am Post subject:

Hi lynn,

Welcome to forums.

Only a person who owns property (has name on title) can transfer it to someone else using a deed, be it quitlaim or any other legal doc. It doesn't matter which state are you in. But if you wish to transfer property, you have to own it actually.

I'd like to know more about your situation. It will help me come up with a concrete solution to your property related issue.

Thanks

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi lynn.

Welcome to the forum. If the person is not the owner of the property then he cannot a sign quitclaim deed and transfer the property to anyone. Even any relatives of the owner cannot quitclaim the property. Only an owner can sign a quitclaim deed.

Best of luck,
Larry

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