can a home be quitclaimed without the mgtg. being affected

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Icon Mini Profile adkmedia




Joined: 15 Oct 2009

Posts: 1

1.29 Dollars($)
PostPosted: Thu Oct 15, 2009 9:47 am    Post subject: can a home be quitclaimed without the mgtg. being affected

My friend had bought a duplex in SC two years ago. Her (then) boyfriend went in on it with her. He is on the mortgage and deed and has agreed to stay on the mgtg and sign a quit claim deed if she pays him the funds he paid to her on purchasing the home. Can he sign a quit claim deed without her having to refinance the house in SC?
Icon Mini Profile jameshogg
jameshogg



Joined: 20 Dec 2005

Posts: 4291
Location: nevada
509.34 Dollars($)
PostPosted: Thu Oct 15, 2009 11:13 pm    Post subject:

Hi adkmedia,

He can sign a quitclaim deed and transfer the property to your friend. However, in order to release the boyfriend from the liability of paying the mortgage dues, she will have to refinance the loan. If she does not refinance the loan, the boyfriend will be liable to pay off the mortgage dues.

Thanks
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