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Out of state quitdeed?

Posted on: 26th Apr, 2012 06:37 am
Unfortunately my friend lost his mom a few months ago, he lives in a different state than she did. His mom had no will and there is a mortgage on her property. his sister wants to keep the property for herself. she has already moved in the property but she has no income. she has asked my friend to put his name on the house and to come back here to get a quitdeed so that she can stay in the house and receive government benefits to pay the mortgage. I told him i don't think it's a good idea to put himself in debt for a property that he may be fully responsible for when he lives out of state. please help me to help my friend. :?
hi sunshine,

if your friend's name is not mentioned on the mortgage deed, then he won't be liable for paying the mortgage payments. if the sister wants to stay in the property, the lender may ask her to refinance or assume the loan. but as she has no income, i don't think any of the options will be available to her.

Posted on: 26th Apr, 2012 07:54 pm
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