Home arrow Mortgage Forums arrow Deeds, Property Transfer and Estate Planning arrow

Is a Quit Claim Deed the solution to drop my name off a deed

Author Message
Guest









Post Posted: Fri Jun 06, 2008 1:26 pm    Post subject: Is a Quit Claim Deed the solution to drop my name off a deed
Like 0
Dislike 0

I own 50% of the property that is in both my mothers and my name. She is deceased with no will. Can I sign over my 50% of the property using a Quit Claim Deed? Also, will this affect me in any way now that I am trying to purchase my own hom?
Icon Mini Profile jheard
jheard
Moderator



Joined: 12 Dec 2007

Posts: 734
Location: Houston, TX
116.72 Dollars($)
Post Posted: Fri Jun 06, 2008 1:34 pm    Post subject:
Like 0
Dislike 0

No. Your mother is deceased, so you cannot transfer a property interest to her. Her heirs now own her half, so you must quitclaim to them.
_________________
Disclaimer: This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation.
Victor

Guest







Post Posted: Fri Jun 06, 2008 2:05 pm    Post subject: To Clarify
Like 0
Dislike 0

I would like to quit deed to a relative. Can I quit claim just my 50% to a niece who is not one of mothers heirs? We live in Texas and the property is also located in TX.
Icon Mini Profile larry





Joined: 27 Jun 2007

Posts: 3322

474.67 Dollars($)
Post Posted: Sat Jun 07, 2008 5:18 am    Post subject:
Like 0
Dislike 0

Hi Victor.

Are you the only owner of the property? If you are the only owner of the property then you can quitclaim 50% of the property to your niece. BTW you should take help to quitclaim and transfer the share of the property. He will help you to make the deed valid.

Feel free to ask if you have any further questions.

Best of luck,
Larry
Icon Mini Profile Jeanette
Jeanette
Community Expert
Community Expert



Joined: 19 Oct 2007

Posts: 121
Location: 760 Lynhaven Parkway, suite 140 Virginia Beach, Virginia
36.28 Dollars($)
Post Posted: Sat Jun 07, 2008 9:59 am    Post subject:
Like 0
Dislike 0

Victor,

Quote:
Also, will this affect me in any way now that I am trying to purchase my own hom?


It will affect you if you are on the mortgage note of first house making payments. That will influence your chances to add another debt to your list of other debts. Your income may not suffice for two mortgage payments. Get a mortgage quote from one of our qualified lenders when you are ready. Contact your family attorney for adivice on your current home.

http://www.mortgagefit.com/quote/

Good Luck,

Jeanette Smith
Mortgage Planner
Union Mortgage Group
www.umgva.com

_________________
Life is like a bull grabit by the horn
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Refinance Quotes
Call for Rates
888-485-7561
Speak to a lender now.

We will match calls to our toll free number with our network of lenders.

Ask Questions
Community Attorney
Joshua Heard - Attorney Joshua Heard
Houston, Texas






Highlights
Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

New and upcoming tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool






Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.084 seconds.