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Warranty Deed transfer or Quit claim Deed?

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Icon Mini Profile rouzier_s





Joined: 15 Apr 2011

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1.34 Dollars($)
Post Posted: Fri Apr 15, 2011 7:24 am    Post subject: Warranty Deed transfer or Quit claim Deed?
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My tenant, no family relationship what so ever, is willing to take over my mortgage deed. My mortgage is current with payments, never had a lien, and my husband has no quarrels about transferring the deed. I hear a warranty deed is the better choice for both the grantor and the grantee. I would not like this transaction to come back and haunt us. Which is better? Warranty Deed or Quit Claim Deed?
Icon Mini Profile dipaligopale





Joined: 25 May 2010

Posts: 790

22.70 Dollars($)
Post Posted: Fri Apr 15, 2011 6:30 pm    Post subject:
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Hi rouzier,
Welcome to Mortgagefit,

I think you should go for general warranty deed.You can go through this link for further details.
http://www.mortgagefit.com/search/quitclaim-deed.html#warranty

Feel free to ask any further query if you have....

DIPA

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srouzier

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Post Posted: Mon Apr 18, 2011 6:19 am    Post subject: warranty deed
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Thank u for the info.
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

Posts: 10439
Location: Alaska
985.83 Dollars($)
Post Posted: Wed Apr 20, 2011 10:50 pm    Post subject:
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Hi srouzier!

Welcome to forums!

As there is a mortgage on the property, you will have to use a quitclaim deed or a grant deed to transfer the property to the tenant. Also, you should make sure that the tenant refinances the mortgage in his name so that you're released of the mortgage liabilities.

Feel free to ask if you've further queries.

Sussane
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