Posted: Thu Dec 22, 2005 10:28 am Post subject: Is quick claim a way to remove co-borrower from title?
I Claudia am the borrower on a house I have just bought a year ago. My brother Frank is the co-borrower he wants off on the house as far as ownership an off the credit report. Will a quick claim deed work for us?
Quick claim deed or Quit claim deed is a procedure by which your brother can take his name off the title and the transfer the title ownership of his part to you or some other.
But the mortgage will remain in his name even after the deed. To take his name out off the mortgage refinance may one good option.
The mortgage can be refinanced and can be put in your name only.
Posted: Mon Jan 09, 2006 1:32 pm Post subject: Quick claim deed
I own a house with my father. I am the only one that lives here as my father lives in the UK. I cannot file for homestead exception as both of our names are on the deed. Will a quick claim deed work for us to transfer the house into my name only so I can file for homestead exception???
Thanks Julie
Quit claim deed will work for you under this condition. You can go for it but involve an attorney in the process to have everything done as per legal requirement.
Posted: Tue Jan 10, 2006 12:34 pm Post subject: my mother and i own a house
my parents bought a house in 1979. when my father past away I married and two or three years past and she changed the name of the house under her and mine name, we have the homestread exeption too. My question is does my husband have right of the house if we divorced??
It is good to see that you want to be aware of the things well in advance, though I don't want any divorce in your life.
Since your husband's name is not on the deed, He will not be eligible for any ownership rights after a divorce. If you include his name in the deed , then that can make him hold title ownership rights even after divorce.
Posted: Tue Jan 10, 2006 1:16 pm Post subject: my mother and i own a house
Hi Samantha,
Thanks for your promtly reply. If I put my husband's name in a quick claim deed, does he still have rights, if we do not go to a lawer only to record his name?
Or if I take of my mothers name and the house will only be under my name does he then has rights?
I have another question, If i change the house under a company name who has rights for the house _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
I am trying to answer the first part. A deed is valid when it is signed by the grantor which is witnessed by one or more witnesses and acknowledged by a notary public.
Posted: Tue Jan 10, 2006 8:04 pm Post subject: Quick Claim deeds
Hi Samatha,
I'm currently trying to buy a home in AZ which is going to be auctioned off on Friday. The owner of the home wants to do a quick claim deed and I'll pay him $1,000.00. What will happen after the quick claim deed is done? Who will then be responsible from the liens and will the attorney still be able to auction the house off?
Posted: Tue Jan 10, 2006 8:40 pm Post subject: RE:
Hi Guest,
If the house is going to be auctioned, then you can opt to buy it provided you can afford the cost. But if the owner wishes to do a quit claim deed, I would say that you leave out the idea of buying this house.
The quit claim deed will allow the current owner to transfer his property interest and the title of ownership. Any liens on the property should be dealt with by you, as you will be having the ownership rights.
In this case, it is better not to buy such a property because if the present owner does not pay off all existing debts and the liens are not removed in time, then the creditors may take away the property. In such a case, you will not be able to occupy that property.
Posted: Wed Jan 11, 2006 2:09 pm Post subject: Homestead
My mother bougt me a house and has is in her name because I didn't have good enough credit. Will adding myself or husband with a quick claim deed give the right to file homstead exemptions.
