My mother is still going to live in the home with us. We live in Florida.
Your mother can live with you even after giving the house to both of you and it completely depends on you.
You must be thinking lender might say only those named on the mortgage can stay in the house but nothing like that, those on the mortgage must be on the title that is what is required by lenders.
Others who are not on the mortgage can also live in the home and lender will not have any problem with it.
The mortgage will remain in your mother's name. However, you need to inform the lender about the transfer through quitclaim prior to executing the deed. The lender may want you and your husband to be on the title. Then you may have to refinance the loan in your name.
jcarrolld Guest
Posted: Fri Apr 27, 2007 7:39 pm Post subject:
My girlfriend and I moved in to a new house three years ago. She had it financed in her name and paid for half of the new house from the sale of her old house. The half of the house that is being financed we both pay for equally along with utilities etc..What can we do so that she keeps her half that is paid plus half of the unpaid balance and I would have half of the unpaid balance of the house. Would she quitclaim 25% of the property to me?
Posted: Fri Apr 27, 2007 9:13 pm Post subject: RE: does quitclaim transfer home loan
Hi Jcarrolld,
Welcome to forum.
Whether your girlfriend would pay for the half of the unpaid balance is entirely up to her will. You may draft a legal agreement stating that she will pay for the half and you for the remaining part. You will possible have to take help of an attorney for drafting the agreement. And, this arrangement can be done only at your girlfriend's consent.
You have spoken about quitclaiming the 25% share. First of all, quitclaim will not transfer the debt, it can only convey interest one has in a property. And, secondly, you can prepare an agreement that if she pays for half of the unpaid balance, she will be getting 25% of the share of interest in property – that's not a quitclaim can do actually but it's a sort of mutual agreement between the two of you.
Thanks
Brian Guest
Posted: Wed May 16, 2007 9:25 pm Post subject: Living Parents to only living son and statutes of limitation
Hello,
If my parent use a Quit Claim Deed to transfer the property to me, can the state of their residence have access to the property if one of my parents happens to need Long Term Care?
Does the deed supercede a statute of limitations made by the state?
Mary Solberg Guest
Posted: Wed Jun 13, 2007 10:25 am Post subject: Quick Deed
My husband & I are wanting to quick deed our rental property to his son for two reasons. One, so he can have the property show as a asset when he buys his first home. Secondly, to avoid us paying capital gain. He would then sell the property, the proceeds would come to us, and a portion we would give to him. Would this work????
Posted: Mon Jun 18, 2007 11:25 pm Post subject: Quitclaim Deed
My husband signed a Quitclaim Deed to me seven months ago. I refinanced the house and the mortgage is under my name. I've been paying the mortgage, property taxes since years ago anyway. Now, a month ago I files for divorce and he is claiming the house as community property. Does he have a right to do this?
Which state you live in? First you need to check if your state is one of the community property states or not. If it is a community property then were joint funds used for the purchase?
If the house was purchased after your marriage and he had also contributed towards mortgage expenses then he can claim a part in a community property state. The rule which is used in such situation to calculate the share each one will get is know as Moore Marsden rule
Do let me know if you have any other questions.
Thanks
Blue _________________ Lets help each other. Try my blog
Jackie Guest
Posted: Thu Jun 21, 2007 5:42 pm Post subject: Granted quickclaim from husband
I was granted a quickclaim to my house in 2006. The loan was changed into my name, i make the payments to the house and now I am getting a divorce. I wante to know if the house is mine when I get divorced? I also want to know does my husband have any rights at all the property. Before I get an official divorce I need to know the dependancy that I am involved in.
As the ownership of the house has been transferred to you, hence your husband cannot claim rights in the property. Since your husband cannot claim rights, hence, after divorce, the house would be yours.
Melinda Guest
Posted: Tue Jun 26, 2007 7:03 pm Post subject: Quit Claim Deed
My boyfiend has been divorced for 2 years. His ex-wife is selling the house and wants him to quit claim it for her to sell it. My question is would he loose his equity in the house is he signs this paper. She says that it is the only way to sell it and he thinks that a lawyer needs to be involved. In the divorce papers he is to get 1/2 the equity.
Jeffrey Guest
Posted: Tue Jun 26, 2007 7:08 pm Post subject: quit claim
Do you have to quit claim your deed over to your wife before selling property you share? We are divorced and I am to get 1/2 the equity. How can I get the equity if I quit claim it to her or the person she wants to sell the house to?
In the divorce papers he is to get 1/2 the equity.
Melinda if the divorce papers state that he is to get 1/2 equity then there should not be any problem with quit claiming interest over to her. The reason is she is obliged to pay him half of the equity when the house gets sold.
adonis
Previous 1 2 3 4 5 6 7 8 Next 
