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Lauren Cullen
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0.10 Dollars($)
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 Posted: Wed Sep 12, 2007 1:22 pm Post subject: How much should a quit claim deed cost. |
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| My father passed away three months ago, leaving behind my mother and myself. I think the mortgage company wants my mother to file a quit claim deed because the mortgage was in my father's name only. Is it absolutely necessary to file a quit claim deed and what is the going rate for an attorney to charge for this service? |
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 miller_st
Joined: 17 Jan 2007
Posts: 917
168.82 Dollars($)
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| Posted: Wed Sep 12, 2007 3:43 pm Post subject: |
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Sorry to hear about your father's death Lauren.
After his death, did you contact them to know what will happen to the mortgage? Normally, when the original borrower dies they require the mortgage to be paid off.
Regarding quit claim deed, on the deed signatures of owner are required but as your father has died, it is not possible now that the quit claim deed can be made.
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Niicss
Joined: 03 Oct 2005
Posts: 1047
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| Posted: Wed Sep 12, 2007 3:46 pm Post subject: |
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| Quote: | | the mortgage was in my father's name only. |
Mortgage was in his name but who owned the house? Was it that it was in your father's name only or all three of you were co owners?
Did your father make a will and name beneficiaries who will be receiving ownership of the house if it was in his name only?
_________________
Good is the Enemy of Great. |
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L. Schwartz
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| Posted: Wed Sep 12, 2007 5:45 pm Post subject: |
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| Quote: | | I think the mortgage company wants my mother to file a quit claim deed because the mortgage was in my father's name only. |
Quit claim deed requires grantor's signatures. As your father is no more, a quit claim deed cannot be used here. |
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carnahandavid
Joined: 21 Dec 2006
Posts: 239
58.40 Dollars($)
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| Posted: Wed Sep 12, 2007 6:27 pm Post subject: |
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If your father did not make a will then his property will be distributed as per laws of intestate succession applicable in your state. And before estate proceeds are divided among beneficiaries, all his debts including mortgage will be cleared off.
The same applies if he left a will. After the will goes through probate procedure, all his dues will be paid off & then remaining proceeds will be distributed among beneficiaries named on the will.
| Quote: | | I think the mortgage company wants my mother to file a quit claim deed because the mortgage was in my father's name only. |
Where did you get this information that the mortgage company is asking for a quit claim deed to be made for transfer of property in your mother's name? |
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larry
Joined: 27 Jun 2007
Posts: 3328
473.40 Dollars($)
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| Posted: Wed Sep 12, 2007 8:26 pm Post subject: |
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Hi Lauren,
A quitclaim deed is used only to transfer property, not a mortgage. So signing the deed will not help your mother to transfer the loan. After your father's death, the loan needs to be paid off or refinanced in the name of your mother. And if your father has left a will, then the property will be divided among the beneficiaries who are named on the will. |
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