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ajrv · Joined: 25 May 2006 Posts: 3 1.12 Dollars($)

I own a house with some one else and we split, if he keeps the house and I do a quick claim deed, does that take my name off the mortgage and does any of that show a negative transaction on my credit

jameshogg · Posted: Thu May 25, 2006 10:08 am Post subject:

No Ajrv, quit claim deed won't help to take your name off the mortgage. For that you will have to refinance or do a novation. Quit claim deed is not going to have a negative effect on your credit.

As long as you are regular with your mortgage payments, your credit is not going to be affected adversely.

James

adonis · Posted: Thu May 25, 2006 10:08 am Post subject: RE

Quit claim deed only transfer the title not the mortgage. It will still be in your name and if stop paying it then it will affect your credit score.

ajrv · Joined: 25 May 2006 Posts: 3 1.12 Dollars($)

What is a novation?

adonis · Posted: Fri May 26, 2006 6:14 am Post subject: RE

Novation is basically a release of liability to the 1st borrower of a loan and the substitution of a subsequent borrower with the lender's approval.

You can also refer this url for more clarification - http://www.mortgagefit.com/discuss/about2128.html

Thanks

Guest

How can I cancel the quick claim deed? Is that possible?

jameshogg · Posted: Mon May 29, 2006 3:30 pm Post subject:

Hi Patricia,

Once the quit claim deed is prepared and signed, you can't get it canceled easily. Suppose you have prepared a quit claim deed and transferred your interest in the property to someone.

Now if you want to get back the interest, he/she must again sign a quit claim deed to you. It's difficult otherwise to get the interests back.

As in that case you have to prove that the deed was signed under pressure and believe me that is not an easy thing to achieve. Talk to an attorney to check for the any possible options available.

James

Guest

we want to reverse quit claim deed.

Jessica · Posted: Sun Jun 11, 2006 8:22 pm Post subject: RE: reverse quit claim deed

Hi,

You can reverse a quit claim deed but can you tell me more about the situation involved here. Then I can give you better advice in this regard.

Regards,

Jessica.

Guest

Co-own mobile home with ex-boyfriend, when we split years ago executed a Bill of Sale and purchased ex's interest for $1.00. Filed paperwork with local tax office. Yesterday ex presented me with a Quitclaim Deed, and made allegations that I needed to execute because ex is moving out of state. Do I need to execute Quitclaim Deed or does this should fishy?

blue · Posted: Fri Jun 16, 2006 10:31 am Post subject:

Hi LH,

Once the interests are transferred to you he doesn't have any rights over the property and I don't think there is any requirement to execute a quit claim deed.

But to sure you must check with the papers with a real estate attorney for proper guidance. Any confusion left should get cleared now before it is too late.

Jessica · Posted: Fri Jun 16, 2006 9:59 pm Post subject: RE: Is quit claim deed necessary?

Hi LH,

I don't think you require a quit claim deed and you are correct, it sounds fishy as you have already signed a Bill of Sale. The Bill of Sale itself acts as a proof of ex-boyfriend selling off his interest in the property to you.

I shall suggest that you show him the Bill of Sale and if in case you cannot convince him, just take the papers to your attorney.

Regards,

Jessica.

Guest

my mom owned a home with her former husband who just passed away last monday. well i just found out that the neice of the husband and her daughter got my my to sign a quit claim deed under the impresion that it was paperwork to have repairs done on the home in question. my mom is not well she is on insulin and when she signed the paper she had just had surgery on her eyes and was not able to read. also the deed was prepared by a local police officer who also signed as witness this document was signed by another witness whom my mom has never seen and my mom was not present when the document was notarized what can we do cause the home now belongs to the neice and her daughter according to the deed is this legal?

sara · Posted: Sun Sep 24, 2006 9:55 am Post subject: RE: is the deed legal?

Hi Nikki,

It seems you are in a difficult situation. But don't worry so much as your mom isn't well and it's you who need to give her support at this time.

The way you say the deed has been done does not seem to be legal. the people there have just taken advantage of your mom's illness. Ideally, quit claim deed should be signed in front of attorney and notarized by notary public but in your case none of them were present. So, I do feel it's not legal.

Thanks,

Sara.

Caron · Posted: Sun Sep 24, 2006 10:13 am Post subject: RE: deed legal or illegal?

Hi Nikki,

Sad to hear about what you are going through. Let's hope you get through this problem soon.

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