Posted on: 12th Nov, 2010 08:08 am
My parents want to leave their house, which has a mortgage on it, to 3 children. Two of the children are no interested in keeping the home but the 3rd one is. Would it be better for my parents to indicate in their will that the house goes to the child that wants it and then he is responsible for the remaining mortgage, or should it be split 3 ways and then then two sign their portion over to the 3rd child? Is this even possible?
hi jojo,
if parents quit claiming house only to 3rd child then other 2 daughters does not have any author on the property. after signing quit claim deed parent will refinance left mortgage to him & then he only will be responsible for mortgage & house.
thanks & regards.
gunz.ijjistaff :lol: :lol: :lol:
if parents quit claiming house only to 3rd child then other 2 daughters does not have any author on the property. after signing quit claim deed parent will refinance left mortgage to him & then he only will be responsible for mortgage & house.
thanks & regards.
gunz.ijjistaff :lol: :lol: :lol: