Quick Deed

0.10 Dollars($)

A house was "totaled" because the cost to replace was more that the homeowner's insurance covered. The house was liveable and repairable, and repairs were made, and the mortgage was satisfied by insurance payout.
The homeowner would still be able to live there with their mortgage satisfied.
Would the Bank own it because it was totaled? Does a Quick Deed need to be done, to transfer ownership back to mortgagee or did house still belong to owner?

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi,

If the mortgage is paid off with the home owner's insurance covered then why are you worrying about this. The house should be on your name. You should better talk with the bank officials as soon as possible and ask them for the mortgage release certificate.

Thanks,
Larry

Guest 0.10 Dollars($)

to add in the warranty deed someone i should notify my brother that he is in the title or I can do without telling him.

Niicss · Posted: Mon Jul 28, 2008 4:44 am Post subject:

Hi Elizabeth.

If you are co-owners then you should inform your brother or take his confirmation before adding anyone in the deed. Only if you are the sole owner of the property then you can add anyone but if it is a mortgaged property then you should also inform the mortgage company.

Let me know if you have any further queries.

Guest 0.10 Dollars($)

If I wanted to Let my son take over my Deed could he do this.Sence he just went through a bank ruptcy.I am buying this house but want out.

jerry · Posted: Fri Oct 10, 2008 4:10 am Post subject:

Hi Jean!

Yes, I think you can quitclaim your property in your son's name. However it will be better to consult an attorney as he has gone through a bankruptcy.

Thanks,

Jerry

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