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quickclaim deed

Posted on: 21st Oct, 2006 06:48 am
my boyfriend purchased a house back in 1997 we did a quick claim deed throug a lawyer. how can I get part of my equity because he wont sell the house he refinance the house 2years ago .thanks daddy
Hi,

"my boyfriend purchased a house back in 1997 we did a quick claim deed throug a lawyer."
I think after the quit claim your name was added to the title of the house and now if you want to take back the share you have in the house then you can quit claim back your share in the house in your boyfriends name and ask for the value for your share from the house.
Posted on: 21st Oct, 2006 10:26 am
Hi Guest,

Since both of you have interest in the property, so you cannot get your share of equity from the house without his consent. You will have to wait till your boyfriend sells off the property.

Thanks
Posted on: 22nd Oct, 2006 11:50 pm
Mom left her house to my sis, with understanding that if sold I should get first chance. Mom's desire was to keep it in the family, but sis won't accept offers from her children(mom's grandchildren) say's not enough money-or from me. She's asked me to sign. Am I doing the right thing to sign? How does it affect me or my children in the future?
Posted on: 26th Oct, 2006 08:25 pm
Hi Guest,

What I have understood from your query is that your mom has left her house to your sister with the understanding that if she sells the property, you should get the first chance to buy it. But your sister wants to sell the property to someone else and not to you. She has probably asked you to sign the legal document - Right of First Refusal which if you sign, your sister will get the chance to reject your offer and accept the offer from another person. And, you want to know if it will be a good idea to sign the document.

Well, it will not be a good thing to sign the Right of Refusal because if you do that, your sister can easily reject your offer and sell the property to someone else. If you feel that leaving the property to someone else will not affect you financially, then only you should sign. If you can meet your housing needs without this property, then you may sign otherwise it is better not to give away the property which you are entitled to acquire.

Thanks
Posted on: 26th Oct, 2006 09:02 pm
My ex-fiancee, TMH signed a Quickclaim Deed, had it notarized and presented it to me last week. My understanding is that with her signing the Quickclaim Deed, she relinguishes ALL/ANY rights/privileges to our home, purchased together in 2005. HOWEVER, does she still have financial obligation(s) to the mortgage company, thus, (still) responsible for half the mortgage payments?

Thanks
Posted on: 07th Nov, 2006 12:43 pm
hi edward,

yes the quit claim deed only transferred the home to you but as the mortgage was taken in jointly by both of you, she is still liable for making the payments.

you need to inform the lender about the transfer you have made; otherwise the lender can call the mortgage due and demand for it to be paid off. what you can do is get the mortgage refinanced in your name or if the lender agrees then a novation can also be done.

thanks
Posted on: 07th Nov, 2006 12:52 pm
What is the meaning of partition to sell by the court of law.
Posted on: 13th Nov, 2006 04:46 pm
Hi Bee,

A co-owner can ask other co-owners for a partition of the property so that he can sell his share, if the other co-owners do not agree then the matter can be taken to court and the court then orders the property to be sold and distribute the proceeds among the co-owners.
Posted on: 13th Nov, 2006 05:08 pm
Hi Bee,

Welcome to the forums.

Partition is the division of real property among tenants in common in response to a court order. Under the common law, any tenant who owns as undivided interest in the property can ask for such a division. The parties may themselves divide the land or else the court can divide the property keeping in mind, the interest of both the tenants.

In general, there are two kinds of partition approved by the court. These are the Partition in kind and Partition by sale. A partition in kind is the division of the property itself with the land being divided in between the tenants in accordance with their part of ownership in the property. But a partition by sale is a forced sale of the property with the proceeds being distributed amongst the tenants in the ratio of their ownership interests in the property.

Hope I could provide some useful information. If you have any other query, do let us know.

Thanks,

Caron.
Posted on: 13th Nov, 2006 08:24 pm
my mother has her house my sister and myself with my mother own the house. i had financial problems and was allowed by my mother to use the house to borrow money agaist it. now the taxes are do and my mother always filed homestead with her taxes when the house was financed my mothers and sisters name were taken off to get the loan. quit claim deed. we forgot to put them back on now the taxes came in my name only can my mother stll file homestead taxes since she has a life time agreement on the house.
Posted on: 14th Dec, 2006 03:25 pm
Hi Guest,

Your mother may not be allowed to file the homestead now. This is because she is no more the owner of that property. But even though you are on the loan, you can quit claim the property to your mother. This will transfer ownership rights to your mother while your name will still be on the loan document.

If you are unable to repay the loan after quit claim has been done, the lender may demand payments from your mother as she will then be the owner of the property. Also, take the lender's permission before you go for the quit claim.

Thanks,
James
Posted on: 14th Dec, 2006 08:19 pm
Not quite sure, just give me some time, i need to find out
Posted on: 14th Dec, 2006 08:24 pm
Hi Guest,

what type of agreement have you signed? let me know, then I shall try to get some information.

Thanks
Posted on: 14th Dec, 2006 09:11 pm
Since your mother has already quit claimed the property to you, she has given up her share of interest in the property. So, she cannot file the homestead. This is because with the change in title the homestead for taxes has passed on to you.
Posted on: 15th Dec, 2006 01:22 am
If a partition for sale is order by the court. How long does the process takes and what happens once a summons is mail to the co-owner of the home. Thanks for your help.
resolved.
Posted on: 20th Dec, 2006 09:47 am
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