Does someone who defaulted on a owner financed home need to sign a quitclaim deed?

msissy73 · Joined: 26 Aug 2008 Posts: 1 1.31 Dollars($)

Does someone who defaulted on a owner financed home need to sign a quitclaim deed?..My parents financed a home and property to someone, they defaulted, therefore my parents had to evict them. When the finance papers were all signed they were filed at the county clerks office, now that the buyers have moved, do we need to do a quit claim deed?

adonis · Posted: Tue Aug 26, 2008 9:25 pm Post subject:

Welcome Msissy,

If the records in the County recorder suggest that the title is in the name of the buyer, well obviously then you'll have to ask the buyer to sign a quitclaim deed or even better a warranty deed . This will help to transfer their share of interest in property over to you.

jheard · Posted: Wed Aug 27, 2008 7:16 am Post subject:

Hopefully, the owner took a security interest in the property in the form of a Deed of Trust. In that case, you must foreclose on the deed of trust by filing a lawsuit. Contact a real estate attorney.

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