my mortgage was recorded on the wrong lot what do I do

brina_robinson · Joined: 05 Mar 2008 Posts: 1 1.30 Dollars($)

I own two pieces of property one on lot107 and the other lot106 I refinanced my house that is on lot107 and the mortgage company recorded the mortgage on lot106 that is a vacant lot that I owned free and clear. can I quitclaim deed the lot107 with my house on it into my dads name?

sara · Posted: Wed Mar 05, 2008 9:10 pm Post subject: RE: mortgage recorded wrongly

Hi Brina,

Welcome to the forums.

Since there has been a mistake in recording the mortgage, therefore you need to get it corrected first. You should inform the lender about such an aerror, request him to record the mortgage again on the lot 107 and then obviously you can quitclaim the property to your dad.

However, before you quitclaim, check the loan doc if it speaks of any penalty on accont of title transfer or whether the lender may call the loan due if you transfer the property to your dad.

Take Care

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi Brina,

Welcome to the forum.

I think Sara has given you sound info. You should correct the error first.

Now as it is a mortgaged property you should inform your lender about the quitclaim and take his confirmation before quitclaiming the property to your father. Otherwise he may sue you on due on sale clause.

Feel free to ask if you have any further questions.

Best of luck,
Larry

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