Posted on: 12th Sep, 2007 01:22 pm
my father passed away three months ago, leaving behind my mother and myself. i think the mortgage company wants my mother to file a quit claim deed because the mortgage was in my father's name only. is it absolutely necessary to file a quit claim deed and what is the going rate for an attorney to charge for this service?
Sorry to hear about your father's death Lauren.
After his death, did you contact them to know what will happen to the mortgage? Normally, when the original borrower dies they require the mortgage to be paid off.
Regarding quit claim deed, on the deed signatures of owner are required but as your father has died, it is not possible now that the quit claim deed can be made.
Miller
After his death, did you contact them to know what will happen to the mortgage? Normally, when the original borrower dies they require the mortgage to be paid off.
Regarding quit claim deed, on the deed signatures of owner are required but as your father has died, it is not possible now that the quit claim deed can be made.
Miller
"the mortgage was in my father's name only."
Mortgage was in his name but who owned the house? Was it that it was in your father's name only or all three of you were co owners?
Did your father make a will and name beneficiaries who will be receiving ownership of the house if it was in his name only?
Mortgage was in his name but who owned the house? Was it that it was in your father's name only or all three of you were co owners?
Did your father make a will and name beneficiaries who will be receiving ownership of the house if it was in his name only?
"I think the mortgage company wants my mother to file a quit claim deed because the mortgage was in my father's name only."
Quit claim deed requires grantor's signatures. As your father is no more, a quit claim deed cannot be used here.
Quit claim deed requires grantor's signatures. As your father is no more, a quit claim deed cannot be used here.
If your father did not make a will then his property will be distributed as per laws of intestate succession applicable in your state. And before estate proceeds are divided among beneficiaries, all his debts including mortgage will be cleared off.
The same applies if he left a will. After the will goes through probate procedure, all his dues will be paid off & then remaining proceeds will be distributed among beneficiaries named on the will.
"I think the mortgage company wants my mother to file a quit claim deed because the mortgage was in my father's name only."
Where did you get this information that the mortgage company is asking for a quit claim deed to be made for transfer of property in your mother's name?
The same applies if he left a will. After the will goes through probate procedure, all his dues will be paid off & then remaining proceeds will be distributed among beneficiaries named on the will.
"I think the mortgage company wants my mother to file a quit claim deed because the mortgage was in my father's name only."
Where did you get this information that the mortgage company is asking for a quit claim deed to be made for transfer of property in your mother's name?
Hi Lauren,
A quitclaim deed is used only to transfer property, not a mortgage. So signing the deed will not help your mother to transfer the loan. After your father's death, the loan needs to be paid off or refinanced in the name of your mother. And if your father has left a will, then the property will be divided among the beneficiaries who are named on the will.
A quitclaim deed is used only to transfer property, not a mortgage. So signing the deed will not help your mother to transfer the loan. After your father's death, the loan needs to be paid off or refinanced in the name of your mother. And if your father has left a will, then the property will be divided among the beneficiaries who are named on the will.
How much do quit claims normally cost???
Hi D,
Free quit claim deed forms are available online. You can get hold of these forms in order to transfer the property. However, it's better to draft the form from an attorney. The fees of the attorney for drafting the deed will vary.
Thanks
Free quit claim deed forms are available online. You can get hold of these forms in order to transfer the property. However, it's better to draft the form from an attorney. The fees of the attorney for drafting the deed will vary.
Thanks