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We are 4 people (2 couples) from the Uk, we own 2 properties in Florida, all are on the deeds, we have now decided to split the properties where by 1 couple owns each property so removing 2 names from each property.
Can we do this by quit claim, how long does it take and how to we get things moving o this.

livinginnky · Posted: Fri Oct 26, 2007 7:02 pm Post subject:

You need to refinance them. The closing agent should be able to handle the title for you at the same time.

jenkin7 · Posted: Fri Oct 26, 2007 8:53 pm Post subject:

Hello Junie,

Even I agree with Eric.

If there is a mortgage on both the properties, signing a quit claim will not settle the financial responsibilities. You have to refinance each mortgage in the name of each couple.

Refinancing generally takes two to four weeks but it depends on factors like whether you have a recent appraisal of your property or not.

Talk to your lender for more details of the procedure.

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi Junie,

You can quitclaim the property but that will only help you to transfer your name from the deed but if you have mortgage then that will not remove your name from the mortgage. So it will be better if you refinance and pay off the Grantor's mortgage. Take help from an attorney. That may help you.

Best of luck to you,
Larry

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