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 sc_rad
Joined: 08 Dec 2008
Posts: 1
1.31 Dollars($)
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 Posted: Mon Dec 08, 2008 1:56 pm Post subject: mother in law wants her name off of warranty deed |
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| purchased house on contract for $20,000 have paid approx 1/2 of that amt and the house was destroyed by fire, mother in law wants to gift us the property (value about $6000) can we declare the contract null and void and receive the property as a gift on a warranty deed or must we satisfy the terms of the contract to get the deed? thank you |
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parmoney
Joined: 05 Dec 2008
Posts: 37
11.32 Dollars($)
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| Posted: Mon Dec 08, 2008 4:51 pm Post subject: Real Estate Attorney |
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| You should look up a local real estate attorney and have them review the contract. |
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smithsussane
Joined: 18 Sep 2008
Posts: 4410
Location: Alaska
423.53 Dollars($)
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| Posted: Mon Dec 08, 2008 9:43 pm Post subject: |
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Hi sc_rad!
Welcome to forums!
I think, if you and your mother in law are on the warranty deed, then she can sign a quitclaim deed in your name and transfer the property to you. However if there is a mortgage on the property, then you will need to refinance the mortgage in your name. But, as parmoney has suggested, it will be better if you could consult a real estate attorney.
Feel free to ask if you have further queries.
Sussane |
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