Can quit claim remove name from title?

Guest 0.10 Dollars($)

I co-purchased a home with a friend of a friend I was the person with the good credit in return she gave me 20k to do so. We had an agreement that she would responsible for mortgage payment, tax and insurance and within a 15 month time frame would purchase at cost once credit was better for a better interest rate. Now however, she is behind on payments and I have experienced my a 30 day late and have made 2 mortgage payments, she is not responding to any phone calls, however she is on title which we hold as joint tenancy also on the preliminary title report I only put 5% interest because she paid the closing is there anything i could do I was recommended short sale but she is on title! thanks

helping_user

Welcome Elove.

Since both of you are on the title, you need to get the person's signatures before you sell. However, if she is not available, the only way out of this problem, as I feel, is to contact the court and file a partition lawsuit – a forced sale of the house.

The court will hear your situation and then set up an auction to sell the home. With the sale proceeds, you can then pay off the mortgage. I don't think the other owner's claims, if any, will be listened to by the court as you will be informing them about every detail of the situation.

Refer to a community discussion on Partition Lawsuit to know more on this issue. Also, consult an attorney prior to filing the lawsuit.

Thanks.

Guest 0.10 Dollars($)

I was told that when my mom passes away , that her home will go into probate even though theres a will. if this true will a quitclaim deed keep this from happening ?

blue · Posted: Wed May 02, 2007 3:26 pm Post subject:

Hi Reeva,

Welcome to Mortgagefit discussion board.

A will has to go through the probate process. But if your mom quit claims the home to you right now then it will become your property and hence no need of a will or probate procedure. After the quit claim deed is made your mom will not remain owner of the home.

Do let me know if you have any other questions.

Thanks
Blue

miller_st · Joined: 17 Jan 2007 Posts: 917 168.84 Dollars($)

Reeva,

The main difference between making a will and quit claiming it to you is that when a will is made your mom remains owner of the home while if it is quit claimed you will become the owner. The will has to go through the probate process, by which it is approved by court as valid & last will of a deceased person.

Miller

Guest 0.10 Dollars($)

we have benn trying to make a change on 13155 Ixora Court, Ap.404 .My mothewr is a home and I wanted to deed the aPART, THAT WAS IN MY NAME JUSTR UNDER HIS NAME ARON /THE CAIM WAS DONE ON THE PROPERTY I OWN WITH MY HUSBAND. HOW CAN I CORRECT THIS FOLIO 62*2282-440-300. THIS IS AN ERRPR AND YOU REPLY WILL BE GREATLY APPRECIATED

Guest 0.10 Dollars($)

Berta, can you explain a bit more about the problem you have with the deed.

All I was able to understand was that you want to correct something. But could not get what error you are looking to correct.

Guest 0.10 Dollars($)

10yrs ago we bought a house with my husband and brother in law 50/50, later we refinance and included my brother in law's wife, we have now decided to buy the share of the house from my brother in law & wife. We refinanced to payoff the morgage and get the cash so that we could pay my brother in law however, aside from the quickclaim from that my brother in law signed what other form do we need?, also should my brother in law's wife have signed the quickclaim deed?

Niicss · Posted: Fri Jul 06, 2007 6:02 pm Post subject:

Hi Soraya,

You have posted the same question on this page also : http://www.mortgagefit.com/quitclaimdeed/tax-issues.html

Please go through it to know what replies other community members have given.

Niicss

Guest 0.10 Dollars($)

my husband purchased our home 10 yrs ago and has made all of the mortgage payments. he also put our three kids through college. during this time the debt was mounting so he refinanced and consolodated to pay off the debt. as he was self employed, and i had an employer my name was required first on the title. obviously due to the refinance he still owes quite a sum on the mortgage. we are divorced now and i wish to have my name removed and be released from any resposibility. he still lives in the maryland house and i have moved on. what if anything can be done.

miller_st · Joined: 17 Jan 2007 Posts: 917 168.84 Dollars($)

Hi Lorne,

Your ex husband will have to refinance again to remove your name from the mortgage. And for removing you from title of the house a quit claim deed will have to be made.

You should ask him to contact the lender and request for the mortgage to be refinanced in his sole name. After the mortgage is refinanced in his name you will not have any responsibility left over the mortgage. You will then be free and clear of the debt burden.

Miller

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi Kathy,

As he has already quitclaimed the property to you, you can easily sell it now. But first you need to notarized the deed and get it recorded at the office of the County Recorder. Without this, the deed is not valid and in that case you may need to take his signature before selling the property.

Guest 0.10 Dollars($)

Mil turned over her home to her children (3) but only husband signed and the property records only have him listed as the owner. Upon mil's death does the home go to husband and then he has to transfer into siblings names?

blue · Posted: Wed Aug 01, 2007 4:23 pm Post subject:

Guest 0.10 Dollars($)

Im going through a divorce and me wife is going to keep the house. Will we need to do a Quick claim deed as well, she would have to refinance the home to take my name completly off the house as a hole. Is this correct? Will a quick claim deed be the only thing we need to do?

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