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Caron

Hi,

I don't think a quit claim is required here. You can use a beneficiary deed to transfer ownership rights of the property to the beneficiary. You will have to complete the deed before your death.

This deed will allow you to designate a beneficiary for your assets and help to transfer your property directly to the beneficiary upon your death. After signing the deed, you will still be legally allowed to stay in the property and refinance it if required. You can do anything you want with the property until the time of your death without even asking the beneficiary.

The legal aspects of beneficiary deed vary from state to state. So I shall suggest that you consult an attorney regarding how beneficiary deeds are executed in your state.

Thanks,

Caron.

Guest

my husband and i are in the process of divorcing...the house and property are in my name, not his...i told him i would sign a quick claim deed to give him the property...i don't want it...but i have put alot of money into this house and i'm not sure i'm doing the right thing, just giving it to him...what is your opinion. i would like an answer before i sign any papers.

Guest

Hi Teresa,

In a divorce case all property will be divided by court in such a way which should be fair and just for both of you.

The judge will use his own discretion to decide what will be proper division of the property and other assets. In my opinion you should not just quit claim all your property in your husband's name and let the court decide.

jameshogg · Posted: Wed Sep 20, 2006 5:28 pm Post subject:

Hi Teresa,

As you are saying that you have put a lot of investment into the property, it will not be a wise decision to just give the property to your husband.

Also as the property is in your name and if you have received it as a gift or as inheritance or owned it before your marriage, it will not fall under community property (community property is which you acquire during the time you are married) and the court may decide that it will not be divided between you and your husband and you will be allowed to keep it with you.

Thanks
James

Caron

Hi Teresa,

Welcome to the forums.

If I would have been in your situation, I would not let the money go away. I would rather keep the house with me, and offer it for rent if at all I don't stay there. This way I can get back a certain amount of the money that I have invested in my home.

But I would like to ask one thing: has your husband asked for the property or you are transferring it at your own will? If he hasn't asked for it, I don't think it will be wise for you to hand over the property to him.

You can keep the property, as it's an asset. And, may be in future you can use it to avoid some big financial trouble. Also, you need to wait and watch out for what the court has to say about the property division on the divorce decree. First, know about the court judgment and then proceed further.

Thanks,

Caron.

Guest

If there are 4 owners of property, can one person file a quick claim deed without the others knowledge and become the sole owner.
Thank you, Phyllis

Guest

Hi Phyllis,

Actually quit claim deed is made by a person to transfer his interest in the property in another person's name.

So, one person can not do such a thing, as the quit needs to mention that one person has given his interest to another person and both have to sign the deed also.

Thanks
Lance

Guest

There are states in which only the grantor needs to sign on the quit claim deed. No signature of the grantee is required in such states. You can find out if your state at all requires the signatures of the grantees and then do the quit claim. But I still doubt if it is legally right.

Samantha

Hi Phyllis,

The deed cannot be filed without the knowledge of the others. The deed should be signed in the presence of notary public and then recorded at the Register of deeds. Without the signatures of others, you cannot file the deed as it is illegal and the notary and attorney (who prepares the deed) will not perhaps agree to it.

It is always better to follow the law. Hence I would advise that you let others know about it.

God bless you

Samantha.

Guest

Helo, my ex-husband is living in the house the we both owned. I am now remarried and we are trying to buy a new home, but when our credits are pulled it is still showing me still on my ex's house. If I sign a quit claim deed will this get me off financially and free from that house?

Caron

Hi Guest,

The reply to a similar query is provided in our previous discussion. Just go through http://www.mortgagefit.com/know-how/transferloan.html . Also let us know if you have further queries. We shall be glad to help you.

Thanks,

Caron.

Guest

Hi, I own a house with my mother as the Co-Borrower. She is starting to go senile and I may have to put her in a home since I need to work and won't be able to stay at home with her. I've been told to get a QuitClaim so that I won't lose the house.

jameshogg · Posted: Thu Nov 02, 2006 1:47 pm Post subject:

Hi Mikki,

It is quite sad to hear about your mother's condition. Your friends have told you the correct thing to do. By using a quit claim deed your mother will be able to transfer her interest in the house over to you.

After her condition worsens it might not be possible for her to take legal decisions on her own.

But you mentioned there is a loan on the house for which she is also the co-borrower. Even after the transfer of the house in your name, your mother would still be liable for the payments. You will have to get the loan also transferred in your name by way of a refinance. You should get in touch with your lender and discuss the situation you are in.

James

helping_user · Posted: Thu Nov 02, 2006 10:52 pm Post subject: RE: Take over property legally

Hi Mikki,

You will not lose the house, at least not your share of interest in it and regarding the part of property owned by your mother, if nobody claims it, you can very well use it. But yes, if you are thinking about taking over her interest legally, as she will not be in a position to take decisions in legal matters, you can make her sign a quit claim deed and transfer her interest to you. It's better to do the quit claim before her condition gets worse.

One more thing, you being the primary borrower and your mother, the co-borrower, it's not necessary that you need to take her name off the loan. Since you are the primary borrower, the lender will be more concerned about your payments towards the repayments and not your mother's.

Thanks

Guest

My mother and boyfriend hold the mortgage on their house, unfourtunatly the boy friend has not been paying the mortgage since my mother is under the care of hospice. He is willing to do a "quick claim" deed by signing over the house to my mother. I recently found out that he has not paid his personal taxes for two years, so far I have not found any judgments agains the house, If my mother does a qucik claim deed, will she be liable for his debt? Should I put my name on the house, will I be liable for any judgements or leins, and what would happen if I sell te house after she pass's? Thank you and God Bless

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Is quick claim a way to remove co-borrower from title?