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can I give away my mortgaged house?

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egretsky Joined: 08 Sep 2010 Posts: 1 1.26 Dollars($)	Posted: Wed Sep 08, 2010 5:49 pm    Post subject: can I give away my mortgaged house? Like 0 Dislike 0 I own a house with a mortgage. Is there any way I can sign over the house, and the debt, to another person to whom I am not related? This would not be a sale, but a gift. We both live in Oregon.
smithsussane Joined: 18 Sep 2008 Posts: 10030 Location: Alaska 919.49 Dollars($)	Posted: Wed Sep 08, 2010 8:43 pm    Post subject: Like 0 Dislike 0 Hi egretsky! Welcome to forums! You can transfer your property to someone else by signing a quit claim deed in his or her favor. However, once you transfer the property to someone else, he or she will have to refinance the mortgage in his or her name. This will release you from the obligation of paying the mortgage. Feel free to ask if you've further queries. Sussane

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