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Angie
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0.10 Dollars($)
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 Posted: Fri Feb 16, 2007 1:48 pm Post subject: Home ownership transfer |
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| Hi, my name is Angie and I live in Denver, CO. My grandmother had to move from El Paso, Tx here. She owns a home out there that we can no longer take care of. My grandmother wants to sign the house over to me as she is getting sicker. Can I sell the home with a quick deed? |
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pat
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0.10 Dollars($)
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| Posted: Fri Feb 16, 2007 1:58 pm Post subject: |
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Hi Angie,
Quick claim deed is used for transfer of ownership of a house. After your grandmother transfer the house over to you with the help of a quit claim deed, you would be able to sell it.
But for selling, it is not necessary for it to be transferred first to you and then being sold. It can be sold while it is in your grandmother's name. |
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yourgrau
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0.10 Dollars($)
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| Posted: Fri Feb 16, 2007 2:06 pm Post subject: |
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| Quote: | | Can I sell the home with a quick deed? |
Angie, its Quit Claim Deed instead of quick deed 
Yes, after you get the house from your grandmother you can sell it using a quit claim deed. A quit claim deed can be used for transferring property to someone without value (considered as a gift) and also for the full value of the property. |
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 blue
Joined: 21 Oct 2005
Posts: 1138
Location: MARYLAND
135.15 Dollars($)
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| Posted: Fri Feb 16, 2007 5:45 pm Post subject: |
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Hi Angie,
Welcome to Mortgagefit discussion board.
Please go through this page to know more about the procedure of making a quit claim deed - http://www.mortgagefit.com/quitclaim-deed.html
Thanks
Blue
_________________
Lets help each other. Try my blog |
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Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1486
Location: MASSACHUSETTS
127.85 Dollars($)
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| Posted: Fri Feb 16, 2007 11:03 pm Post subject: RE: sell home with quit claim deed |
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Hi Angie,
Welcome to the forum.
Once you get the property ownership through quit claim deed, and there is no co-owner on it, you can sell the property without any obstruction.
If your grandmother is planning to give away her entire property to you, then you are the sole owner and hence you can sell it. Otherwise, if there would have been a co-owner, then it would not have been that easy. Either you had to file a lawsuit to sell the property without the consent of the co-owner, or else you would have to decide the sale proceeds between you and the co-owner.
Hope this will help you to some extent.
God bless you.
Samantha
_________________
Know how to compare lenders with mortgage booklet |
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Elizabeth
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0.10 Dollars($)
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| Posted: Tue Jul 15, 2008 10:11 am Post subject: Homeownership transfer |
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| If i want to transfer my house to somebody what happens to the balance due |
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chrisburns
Joined: 13 Nov 2007
Posts: 106
Location: Florida
27.90 Dollars($)
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| Posted: Tue Jul 15, 2008 4:02 pm Post subject: |
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most mortgages these days are not assignable. If it's a family member what you want to do is a non arms length transaction using a gift of equity for them to get qualified for their own loan.
Let me know if you need further information about this.
_________________
Chris Burns
Five Stars Mortgage, LLC
Office: 800-871-2636 ext. 200
Cell: 407-456-3697
Residential & Commercial Loans |
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