How many can be qiut calimed one 1 home?

Angelinwaiting13 · Joined: 13 Oct 2006 Posts: 5 2.72 Dollars($)

how many people can be quit claimed on 1 house?
If after the person whom holds the mortgage and is named on the warranty deed, quit claims her boyfriend onto the property, can she also add her mother and kids?

mcole · Posted: Fri Oct 13, 2006 4:07 am Post subject:

If I’m understanding your question, you have added your boyfriend to title and now want to add your mother and kids…correct? If so, yes that can be done. However, you may want to take a close look at how you hold title, as right-of-survivorship, interest held, etc. are not all the same.

Cool

Caron

Hi Angelin,

Welcome to the forums.

Property rights can be granted to more than one person. As such you can also add your mother and kids through quit claim. But as Mcole say, you need to keep in mind how you will be distributing the share of interest to others and the kind of ownership you will wish to have. And, one more thing, since you have a mortgage, just let the lender know about the quit claim in case he has any objection later on.

Thanks,

Caron.

Angelinwaiting13 · Joined: 13 Oct 2006 Posts: 5 2.72 Dollars($)

if 2 people are on the same quit claim do they get same amount of $$ when house sells?

Guest 0.10 Dollars($)

well, that depends on the share of interest each person has in the property. if they have equal shares, then they can get same amount of cash from the sale proceeds.

sara · Posted: Fri Oct 13, 2006 4:24 am Post subject: RE: sale of mortgaged property

Hi Angelin,

Are you thinking of selling the property? Will the lender allow b'cause you already have a mortgage on it.

Sara

Angelinwaiting13 · Joined: 13 Oct 2006 Posts: 5 2.72 Dollars($)

This is a house that my ex-husband's girlfriend purchased , she has mortgage in her name, he cohersed her into quit claiming himbecause he propably helps her with the payments. Never the less, she called me crying because she feels doomed, she wants out of the relationship and now thinks she'll lose most of her interest to him. Since on the quit claim her name is on it as well as his, I figure they will split the difference but that is why above in the questions I asked if she also added her mother and daughter will they all have to split it 4 ways? That way at least he'll get a smaller portion of her total investment.

mcole · Posted: Fri Oct 13, 2006 4:39 am Post subject:

Depending on how he and his girlfriend hold title, adding more people may have the opposite effect. It may reduce her share.

Guest 0.10 Dollars($)

Yes, I believe the property has to be split into 4 portions if your ex-husband’s girlfriend wants to add her mother and daughter to the property along with the ex getting his share of interest. But she needs to talk to your ex on this because dividing the property among 4 will reduce his share.

Angelinwaiting13 · Joined: 13 Oct 2006 Posts: 5 2.72 Dollars($)

I see, so If adding more by quit claim, then since she quit claimed him on to property, they both will need to agree and sign to a new quit claim to add her mother and child?

mcole · Posted: Fri Oct 13, 2006 5:14 am Post subject:

No. That is incorrect information.

Not being husband and wife, even if they hold title as Joint Tenants, either one of them could transefer, sell, or give their property interest away without permission of the other.

So, if she transfers her interest, the title becomes a Tenancy In Common and her interest would be divided among herself and the people she adds -- while the boyfriend would still retain half interest.

She should probably seek the advice of an attorney.

All times are GMT - 7 Hours

Page 1 of 1