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

when I purchased my home 7 years ago, my dad signed for me as co-borrower. how can I have my dad removed from my mortgage note?

Hi Deanna,

You can refinance the loan in your name only and take off your dad's name from the loan. By refinance, I mean, you take out a new loan at a different interest rate in order to pay off the existing loan. You may apply for the new loan with the current lender or you may approach a new lender.

However, you may benefit only when you get a new loan offer below the interest rate on your existing loan. But you need to check whether your note speaks of any prepayment penalty on the first loan due to refinance.

You may go through the section on How to Refinance for a better understanding of the process.

Thanks,

Sara

how do i remove myself from quick claim deed on my dad`s house? there are no loans or leins, i just don`t want to be on it.

Touls,

As there is no loan or any other type of lien on the house there will not be any problem in getting your name off the title. You can use a quit claim deed to transfer your interest in the house over to your dad.

On the deed you will be named as the grantor and your dad as grantee. After filling it you will have to get it notarized and recorded with your local county recorder's office. After these procedures are completed your name will be off the title of the house.

Miller

Hi Touls,

You can go through this page for more information on quit claim deeds and how they are used in ownership transfer - http://www.mortgagefit.com/quitclaim-deed.html

why do people do quick deeds some reasons

Hello Guest,

Quitcliam deed is used to transfer ownership of property to another. This deed is very popular throughout the U.S. To know more about it, you may refer to: http://www.mortgagefit.com/quitclaim-deed.html

Hi larry,

It is quitclaim deed and not quitcliam. Hope you don't mind :)

Sara,

Thank you for pointing my mistake.

My boyfriend 5 years(Nov.2002) ago purchased my property with my money, the mortgage is threw the owners of the property. I put 10,000 down and paid all title and closing costs but everything was in his name. 5 months later I put a mobile home on the property and paid for all permits , electric, well, septic cost of 15,000. (mobile in my name) July 2004 he left me for another women. He quick claimed the property to me (we had it notarized and I filed it and received deed in my name) The mortgage was a 5year balloon due in Nov 2007. I found investor to pay balloon but the title company came back saying I couldn't get clear title. reasons: He was married and the quick claim did not state that. In Florida what they are saying that because he was married the quick claim had to state that it was not his homestead (it wasn't but the quick claim has this address) So they say they need a new Quick claim saying its not his homestead. He is refusing to sign new quick claim. I have till Nov 12 ,2007 to pay mortgage or they will foreclose. Is there another way to get clear title. Thank You in advance for any help you can offer.

"He is refusing to sign new quick claim. "

If he had signed the deed the first time what problem he has now in signing?

I think if you properly explain all the details to him he will agree to sign a new quit claim deed.

Miller

i have been divorced since nov. 04. my ex and i still own the home. in nov. 06 she filed bankruptcy. will a quit claim deed keep her from coming back later and try to take any of the equity. when she filed bankruptcy she stopped paying her part and there was no equity in the house. i don't want to pay refinance charges but i don't want her to steal from me.

Hi Jon,

You can use a quitclaim deed to remove her name from the title to the property. After signing over the quitclaim deed, she will give up her rights to the property and this will prevent her from having any rights to the property later.

We are 4 people from the Uk owning 2 properties in Florida, all 4 people are on the deeds to both properties.
We now wish to split, with each couple taking one house each, we need to take 2 names off each.
Can we use the quit claim deed for this also how do we get thing moving.

Hello Junie,

I have already replied to your query at http://www.mortgagefit.com/quitclaim/time-period.html