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 bradyk0
Joined: 31 May 2009
Posts: 1
1.00 Dollars($)
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 Posted: Sun May 31, 2009 11:09 am Post subject: deeding property to my mother |
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| I have a property that i own in texas. I want to deed it to my mother as a gift. do i use a quitclaim deed or a warranty deed? |
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Realgeni
Joined: 13 Apr 2009
Posts: 1434
99.77 Dollars($)
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| Posted: Sun May 31, 2009 2:34 pm Post subject: |
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You would do quit claim deed. This will transfer the interest in the property in to yoru monther name.
Warranty deed - A warranty deed is a type of deed where the grantor (seller) guarantees that he or she holds clear title to a piece of real estate and has a right to sell it. You are delacing that you are the owner of that property and has the right to seel it and you gurantee to the buyer that if the title ever fails, you will be responsible for any losses due to that. |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Sun May 31, 2009 7:36 pm Post subject: |
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Hi bradyk,
If you own the property free and clear, then you can use a warranty deed to transfer the property to your mother. However, if there is a mortgage on the property, then you'll have to use a quitclaim deed. Moreover, you'll also have to inform your lender about this transfer of property.
Thanks |
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Realgeni
Joined: 13 Apr 2009
Posts: 1434
99.77 Dollars($)
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| Posted: Mon Jun 01, 2009 8:38 pm Post subject: |
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| James thanks for more clarification on this matter. |
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