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Hello every one:
My parents are separated and now my mother wants to make a quick claim deed of their house to me?
She is currently paying the mortgage with no help of my father.
My father does not want to sell the house and lives abroad.
Can she do that without my father being present?
Please advice. Thanks for all the help
Assuming the title is in both of their names, the answer is no - she cannot do that -
She CAN convey her interest in the home - but not your fathers
My fiance and i have a home financed together. We're calling it quits. She wants the home and i'll give it to her as long as my name comes off it. She wants me to quick deed it to her. Will this eliminate me from physical and financial responsibility of the property. If i quick deed it to her and she looses the home or misses a payment will my credit be affected? Or does the home need to be refinanced in her name only so that i won't be financially responsible?
My fiance and i have a home financed together. We're calling it quits. She wants the home and i'll give it to her as long as my name comes off it. She wants me to quick deed it to her. Will this eliminate me from physical and financial responsibility of the property. If i quick deed it to her and she looses the home or misses a payment will my credit be affected? Or does the home need to be refinanced in her name only so that i won't be financially responsible?
AFAIK, in North Carolina:
A quit claim deed to her will NOT take your name off the deed of trust.
She will need to refinance in her own name.
If you quit claim it to her, and she defaults, the bank will surely consider you just as responsible as you are today, and will be asking you for the money.
Mike's answer should be applicable in all states. Just think about it, you have two separate things going on. On the one hand you have a loan. Practically anyone could be obligated to pay - you, your fiance, your parents, etc. Whoever signed the loan documents is required to pay, even if that person doesn't own the home. On the other hand, you have the ownership of the home. Again, they are two separate things and the end of your ownership of the home does not end your liability for the loan.
In order to end your liability under the loan, the bank would have to give you a release. I would think that would be very unlikely right now unless your fiance has a very strong relationship with the bank. She'll probably need to do a formal refinance.
Customarily, in a divorce situation, the house is evaluated and one of the couple buys out the other or the house is sold and proceeds divided. It makes no difference if your father wants to cooperate or not. The court will force him to.
As others have said, you mother needs a good experienced divorce attorney to wade through all this for her. If she has paid into the house more than her husband then the court may take this into consideration.
DO NOT even think of taking title to this house. The legal and tax consequences will then become your problem.
I purchased a home with my boyfriend in San Antonio, TX. It has only been 5 months. We have never introduced each other as husband and wife. Things are not working out. Can I file a quick claim deed or a warranty deed to transfer the house to him?
my quit claim deed reads that all my heir and myself are excluded and forever barred. is this how a normal deed reads. This is being done in the state of missouri for my x husband farm and includes property in north Fl
Also by the quit deed reading barred, forever, when my son takes over and lets say he breaks his back does that mean i could never go on the property to care fore him
I would guess you are barred from ownership, but since it's a legal question - ask an attorney local to your area.
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