Posted on: 28th Jan, 2010 12:46 pm
my daughter and her husband own the property that i live in with my other daughter and her family. we have always paid the mortgage and taxes (13 years) but the loan and property are not in our name.
can my daughter and her husband file a quitclaim deed, even with a mortgage still owing, in order to put the property in our names and release theirs from the title?
would we be able to refinance the property?
can my daughter and her husband file a quitclaim deed, even with a mortgage still owing, in order to put the property in our names and release theirs from the title?
would we be able to refinance the property?
hi gloria,
your daughters, spouses and others listed on the property deed can transfer their ownership interest in the property to you (and your spouse) via a quit claim deed; however, deeding the property to another does nothing to relieve your daughters, spouses and others from their responsibility on the loan. if they deed the property to you, they are still responsible for paying the loan.
your daughters, spouses and others listed on the property deed can transfer their ownership interest in the property to you (and your spouse) via a quit claim deed; however, deeding the property to another does nothing to relieve your daughters, spouses and others from their responsibility on the loan. if they deed the property to you, they are still responsible for paying the loan.