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jblanco0219 · Joined: 21 Feb 2010 Posts: 2 1.57 Dollars($)

I live in Florida and my mother 4 years a go sign a quitclaim deed to my name for her condo that is under her name and also the mortgage and she live in. We sign the quitclaim deed in case that something happen to her , unfortunatelly I am facing foreclusure on my own property wher I live . I have have a first mortgage with GMAC and a second mortgage is a home equity line with Wells Fargo .To make long history short GMAC agrees on the short sale but wells fargo did not so most likely my house when back to foreclousure . My question is , can Wells Fargo put a lien on my mother's condo because I hold a quitclaim deed on it ?

adonis · Posted: Sun Feb 21, 2010 8:48 pm Post subject:

Hi jblanco,

If there is a deficient amount resulting from the foreclosure sale of your property, then the lender has the rights to place a lien on the condo. This is because the condo will be considered as your property as the deed is in your name. If you reverse the deed to your mother now, then it would be considered as a fraudulent transfer by the lender.

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reversed a quitclaim deed