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Home ownership transfer

Hi, my name is Angie and I live in Denver, CO. My grandmother had to move from El Paso, Tx here. She owns a home out there that we can no longer take care of. My grandmother wants to sign the house over to me as she is getting sicker. Can I sell the home with a quick deed?

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Angie,

Quick claim deed is used for transfer of ownership of a house. After your grandmother transfer the house over to you with the help of a [url=http://www.mortgagefit.com/quitclaim-deed.html]quit claim deed[/url], you would be able to sell it.

But for selling, it is not necessary for it to be transferred first to you and then being sold. It can be sold while it is in your grandmother's name.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:04 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

[quote:47ffb7dad4]Can I sell the home with a quick deed?[/quote:47ffb7dad4]
Angie, its Quit Claim Deed instead of quick deed :)

Yes, after you get the house from your grandmother you can sell it using a quit claim deed. A quit claim deed can be used for transferring property to someone without value (considered as a gift) and also for the full value of the property.

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blue's picture
blue | Joined: October 21, 2005 09:17 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Angie,

Welcome to Mortgagefit discussion board.

Please go through this page to know more about the procedure of making a quit claim deed - http://www.mortgagefit.com/quitclaim-deed.html

Thanks
Blue

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Samantha's picture
Samantha | Joined: September 16, 2005 11:59 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Angie,

Welcome to the forum.

Once you get the property ownership through quit claim deed, and there is no co-owner on it, you can sell the property without any obstruction.

If your grandmother is planning to give away her entire property to you, then you are the sole owner and hence you can sell it. Otherwise, if there would have been a co-owner, then it would not have been that easy. Either you had to file a lawsuit to sell the property without the consent of the co-owner, or else you would have to decide the sale proceeds between you and the co-owner.

Hope this will help you to some extent.

God bless you.

Samantha

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

If i want to transfer my house to somebody what happens to the balance due

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chrisburns's picture
chrisburns | Joined: November 13, 2007 07:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

most mortgages these days are not assignable. If it's a family member what you want to do is a non arms length transaction using a gift of equity for them to get qualified for their own loan.

Let me know if you need further information about this.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Home is currently in my name and there is a mortgage. Home do I transfer home a gift. The person the home will be transfer to have lots of debt. Is there anyway to transfer the same mortgage to that per name. Also, they have paid the mortgage ever since it has being in my name.

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lisa.scherzer's picture
lisa.scherzer | Joined: January 4, 2008 08:48 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Latoya,

There may be a couple options here. First, you cannot transfer the mortgage that is in your name to another person. You will have to have them purchase the home or they may be able to [url=http://www.mortgagefit.com/refinance.html]refinance[/url] it since it sounds like they may be living in the home currently. If they are family, you may be able to do a gift of equity to them allowing them to purchase the home with no down payment and it would be treated like a refinance by being able to used the appraised value. Of course there are many variables from here that would need to be looked at to determine the best way to proceed.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Mother getting on in years, owns home free and clear, what and when would be the best way to transfer home owership?

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sara's picture
sara | Joined: July 5, 2006 03:16 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Reynaldo,

Your mother can use a warranty deed in order to transfer the property to you as the home is free and clear. She can do it now and even mention the clause of life estate in her name which will give her the rights to stay in the property until death. After her death, the clause will become null and void.

Take care.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have POA over my grandmother, who is in the nursing home. She owns her home & land FREE and CLEAR. How do we get the home & land transfered into my name?

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adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi sleighrich,

If a ladybird deed is valid in your state, then you can use a ladybird deed to transfer the property in your name. If your grandmother is not taking the advantage of Medicaid benefits, then she can transfer the property to you with the help of a warranty deed.

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