How is the quitclaim deed work in GA?

hongque · Joined: 13 Apr 2009 Posts: 2 1.88 Dollars($)

My parents intend to file bankruptcy, so can they file a quitclaim and put the mortgate deed under my name? we live in GA. How many months ahead can they claim my name before filing bankruptcy so the house will be legally mine and avoid trouble later on. I have been paying the mortgate for 2 years now.

jameshogg · Posted: Mon Apr 13, 2009 7:53 pm Post subject:

Hi hongque,

You should note that mortgage cannot be transferred in your name with the help of a quitclaim deed. A quitclaim deed is used to transfer property. In order to transfer the mortgage in your name, you'll have to refinance it in your name. 1 year before filing bankruptcy, your parents should transfer the property to you. Otherwise it would be considered as a fraudulent transfer.

Thanks

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