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helping_user
Joined: 31 Mar 2006
Posts: 674
Location: Hawaii
125.85 Dollars($)
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 Posted: Tue Oct 24, 2006 12:36 am Post subject: RE: Paying property taxes after quit claim |
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Hi Elsa,
Even if you have quit claimed your property, you are still responsible for the payments as the loan is still in your name. If your friend is only on the title, he should pay the property taxes. Or else, if you add your friend's name to the title through quit claim, then both of you should pay property taxes for the share of interest each of you have in the property.
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Buka
Guest
0.10 Dollars($)
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| Posted: Tue Oct 24, 2006 12:04 pm Post subject: Transfer Agreement |
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| My husband and I own a home together and he has some arrearage of child support. He is willing to sign a Quitclaim deed to give me his interest in the property. If we also sign a mortgage transfer agreement will that also take his name off of the mortgage and give me sole ownership of the property? |
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Larry Wachowski
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0.10 Dollars($)
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| Posted: Tue Oct 24, 2006 12:13 pm Post subject: |
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Hi Buka,
After a quit claim deed is used to transfer the home in your name, mortgage would have still remained in your husband's name but as you say that you will also get a mortgage transfer agreement to transfer the mortgage, your husband will not have any liability after that. And also you will have sole ownership of the house. |
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lighthouse keeper
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0.10 Dollars($)
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| Posted: Tue Oct 24, 2006 1:49 pm Post subject: quick claim deed viable? |
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| Hello, I bought a lighthouse from the gov't on a internet auction, the deed is in my (and my husbands) names and we have sold shares off to three other couples to be able to afford it. The four couples have set up a LLC and now we are trying to get the deed recorded with the County (Anne Arundel, MD). To get the deed recorded in the LLC name, I need the deed to say LLC, not me personnally, but the Gov't office isn't keen on rewriting the deed, can my husband and I write a quick claim deed from us to the LLC, referencing the gov't deed and then only have to record it once? We have been quoted recording fees of close to $3000, each time I would have to record the deed, I am really trying to not have to pay double! |
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norman
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0.10 Dollars($)
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| Posted: Tue Oct 24, 2006 2:26 pm Post subject: |
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Hi,
You can use a quit claim deed to transfer interest into the LLC you have formed.
For that you will have to file the deed at your county recorder's office for deeds by assigning yourself as the grantor and the name of the LLC being the grantee. |
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helping_user
Joined: 31 Mar 2006
Posts: 674
Location: Hawaii
125.85 Dollars($)
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| Posted: Tue Oct 24, 2006 10:50 pm Post subject: RE: Quit claim property to LLC |
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Hi Guest,
It is not difficult to transfer property from your name into your LLC's name. For this, you need to file a quit claim deed with the County Recorder's office (or office of the Register of Deeds) assigning your name as the grantor and the LLC's name as the grantee. But first of all, go to the local county office in order to get the documents. Also, find out if what documents they require and if they require anything else such as the Declaration of Value.
It will be a wise thing to consult a lawyer for the transfer to make sure that the transfer is carried out properly. Also, consult a tax advisor regarding tax issues related to the transfer.
Hope this information will help you.
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jbw57
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0.10 Dollars($)
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| Posted: Wed Oct 25, 2006 11:51 am Post subject: Quit Claim - Removing ownership |
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A condo we own is still in both of our names after a divorce 8 +yrs - NO mortgage.
Can I Quit Claim my ownership to our son without her signature ???
She would still remain on the deed. |
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kary
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0.10 Dollars($)
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| Posted: Wed Oct 25, 2006 11:59 am Post subject: |
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Hi,
Yes you can transfer your share in your son's name and for that her signature will not be required. After that your son and your ex-wife will have the ownership of the condo. |
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Susie
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0.10 Dollars($)
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| Posted: Sun Oct 29, 2006 7:54 pm Post subject: Quit claim deed |
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| I am going thru a divorce and my soon to be ex. signed a quit claim deed to me for our land. He is now going thru a law suite, my question, "can my land be involved in the law suite?" |
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sara
Joined: 05 Jul 2006
Posts: 955
Location: New Brunswick, New Jersey
182.56 Dollars($)
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| Posted: Sun Oct 29, 2006 8:32 pm Post subject: RE: land involved in lawsuit |
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Hi Susie,
I don't think your land can be included in the lawsuit because your would-be ex husband has already conveyed the interest in the property to you through the quit claim deed. Once the property is transferred, he has no rights over it. But yes, if he wishes, he can take up any illegal means of getting back your property. Otherwise, I feel you can safely keep your home.
Thanks,
Sara. |
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Seeking info
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0.10 Dollars($)
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| Posted: Mon Nov 06, 2006 9:31 am Post subject: Quit claim deeds and medicaid |
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| A piece of property is quit claim deeded 14 years ago and recorded but a clause was put into the quit claim deed "retaining a life estate". The property cannot be sold as long as this person "retaining a life estate" is alive. However, is this property subject to medicaid review if the person who quit claimed it is in a nursing facility and is applying for medicaid? The person who accepted this quit claim deed had it recorded 14 years ago is now paying taxes and upkeep on it. Will the governement expect the sale of this property to pay for medicaid loss? Why should the person maintaining this property invest time and money into the property if there is a chance this should happen? This property is not a primary residence. It is a summer home. Note: The quit claim deed was drawn up by an attorney and recorded 14 years ago. This is a father and son relationship. |
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blue
Joined: 21 Oct 2005
Posts: 1138
Location: MARYLAND
134.99 Dollars($)
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Elsa
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0.10 Dollars($)
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| Posted: Thu Nov 09, 2006 1:19 pm Post subject: |
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| What is signing over the deed in lieu of foreclosure |
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tfrost
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0.10 Dollars($)
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| Posted: Thu Nov 09, 2006 1:28 pm Post subject: |
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Hi Elsa,
When a mortgage is in default and lender might foreclose then if the borrower has no other option left to avoid the start the foreclosure procedure, he can do a deed in lieu of foreclosure to give the property to the lender and avoid foreclosure.
T.Frost |
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Elsa
Guest
0.10 Dollars($)
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| Posted: Thu Nov 09, 2006 4:46 pm Post subject: |
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| How long can I stay in the home if I do the deed in lieu of foreclosure |
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