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Is quitclaim deed a way to remove co-borrower from title?

Posted on: 22nd Dec, 2005 09:28 am
I Claudia am the borrower on a house I have just bought a year ago. My brother Frank is the co-borrower he wants off on the house as far as ownership an off the credit report. Will a quick claim deed work for us?
Hi Charles,

Welcome to our forums.

Even if you do a quit claim deed on your house, you are still liable for the money owed provided your name is on the mortgage document. Such a deed cannot help you get rid of the responsibility of paying off the home loan.

Know more about Quit claim deed from our resource on this topic.


Posted on: 26th May, 2006 10:51 pm

I think the information in this section will help you on this issue.

Let us know if you have any more query.

Posted on: 26th May, 2006 10:58 pm
Can a quick claim and equity-loan BOTH be done at the same time. My finance' bought a house that he wants to add my name AND at the same time try to get an equity-line of credit; possibly 2nd mortgage.
Posted on: 11th Jun, 2006 12:13 am
I dont have much idea on this. Adding your name to the title is not a big task and the procedure is also simple.
Posted on: 11th Jun, 2006 01:08 am
hi edith,

a quit claim deed can be done on a property against which you have taken a home equity line of credit. your fiancée can add your name in the title and at the same time take a second mortgage. since your name will be on the title, so if your fiancée fails to repay the debt, you will be responsible for it.


Posted on: 11th Jun, 2006 08:40 pm
My wife and I bought a condo with the majority of the down payment coming from me.I am 87 yrs and retired. My wife refinanced the mortgage without informing me.
Can she use the quit claim deed to have my name taken off the Title without my knowledge?..and if she has what steps can I take to have my share of the Condo?..
Thanks Victor
Posted on: 06th Aug, 2006 07:08 am
Hi Victor,

When people refinance their mortgage, each person on the title to the property must sign the documents prepared by the lender. Without the signature of any one, the lender cannot allow for the refinance.

I am quite surprised at how could your lender allow your wife to refinance without your knowledge as your name is also on the title. I think you should talk to the lender as soon as possible and find out what he has to say on this matter.

Regarding the quit claim, this kind of a deed does not guarantee transfer of ownership. So, it's not as effective as a warranty deed that is mostly used in case of real estate transfers. Even then I shall advise you to consult your attorney in this regard. He will be the right person to guide you in case your wife has already taken your name off the title.

Let us know if you have any other query.


Posted on: 06th Aug, 2006 08:48 am
Thanks Jessica.............Thanks for the information...I will keep you posted asap.

Posted on: 08th Aug, 2006 08:38 pm
My husband's parent's bought our house because we had no credit at the time. We now want to file for the homestead exception. I have read your responses in regards to this matter. However, by filing a quit claim deed, do we really acquire any rights to the property since the property is still not paid for and the loan will continue to be under his parent's name? In other words, is the property title valid before the property is paid off, or do we have to wait until the property is paid off. Which one rules? I ask because we may consider selling the house in the future and don't know who would have to do what. Thanks for any information you can provide.
Posted on: 03rd Sep, 2006 07:42 pm
Hi Kelly,

Welcome to the forums.

I guess your in laws will quit claim the property to you and your husband. Doing that, they will give you the rights to occupy a certain part of the property. You can very well stay there but the property title will not have your names. For that, you need signing a warranty deed or title deed.

Know more on quit claim from our section on this topic.

The property title is valid but you cannot sell the property until and unless you have paid off the loan. The property can be quit claimed to you but the liability of paying the mortgage still remains with the original borrower until and unless he/she transfers it to you through Novation.

Let me know if you have any related query.


Posted on: 03rd Sep, 2006 08:24 pm
My wife wants to make sure that she has a place to live if I die
Posted on: 09th Sep, 2006 08:34 am
Hi Jon,

I guess you are asking about how to add your wife's name to the deed. Well, you can do that using a quit claim deed which is quite common. But if you want to make sure that no other person claims any share of interest in the property in future, it is better to sign a warranty deed or title deed.

Know how quit claim and warranty deeds are executed.


Posted on: 09th Sep, 2006 09:27 am
I own my home ,everything is free and clear and I have made out my will do I need to do a quit claim deed and give to my beneficiary?
Posted on: 15th Sep, 2006 09:19 am

If you have made your will then the home will be divided as per the instructions you have given in the will.

There is no need for quit claiming it. But if you want to transfer it right now to your beneficiaries, then you can do a quit claim.

Posted on: 15th Sep, 2006 02:08 pm

I don't think a quit claim is required here. You can use a beneficiary deed to transfer ownership rights of the property to the beneficiary. You will have to complete the deed before your death.

This deed will allow you to designate a beneficiary for your assets and help to transfer your property directly to the beneficiary upon your death. After signing the deed, you will still be legally allowed to stay in the property and refinance it if required. You can do anything you want with the property until the time of your death without even asking the beneficiary.

The legal aspects of beneficiary deed vary from state to state. So I shall suggest that you consult an attorney regarding how beneficiary deeds are executed in your state.


Posted on: 15th Sep, 2006 10:34 pm
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