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Does a quit claim deed relinquish rights and responsibilities if my name was listed on the security deed? I am concerned because the home is pre-forclosure now, and I want to make sure I am not financially responsible for anything. I was not on the mortgage, just the security deed.

Thank you.

jameshogg · Posted: Thu Jun 30, 2011 9:20 pm Post subject:

Hi Rusty,

If you sign a quitclaim deed and transfer the property to someone else, then you will be relinquishing rights and responsibilities of that property to someone else. However, if the mortgage remains in your name, then you will be liable for paying the mortgage dues unless someone else refinances the mortgage in his/her name.

Thanks

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