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bck1195 · Joined: 16 Dec 2008 Posts: 1 1.28 Dollars($)

I live in washington. She still has a loan on the home. So do we just need to fill out the quit claim deed? or is there any other paperwork. If she passes away does that make me responsible for the rest of the loan?

smithsussane · Posted: Tue Dec 16, 2008 7:42 pm Post subject:

Hi bck!

Welcome to forums!

Your mother will have to fill out a quitclaim deed and transfer the property to you. Sample quitclaim deed forms are available online but she may even consult an attorney to draft the quitclaim deed. Once the deed is filled out, the deed has to be notarized and recorded at the county recorder's office.

But as the ownership of the property is transferred in your name, you will have to refinance the mortgage in your name. This is because lenders always prefer that the owner of the property should be on the mortgage docs.

Feel free to ask if you have further queries.

Sussane

gmakerley · Posted: Wed Dec 17, 2008 8:52 am Post subject:

it's not so much that lenders "prefer that the owner of the property should be on the mortgage docs." rather, when a property is transferred from one owner to another, said mortgage would be due in full. therefore, if you become the owner of the property, the old owner needs to be able to pay off the mortgage. by refinancing, of course, you can save your mom that headache.

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My mother is quit claiming her home to me