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quit claims, novation

Anonymous
Posted on: 23rd May, 2006 08:53 pm
My husband and I are soon filing for divorce. I want to relinquish my claim to the house to him. I also do not want to be held liable if in the future he loses the house to foreclosure. How is the best way to do both?
we want to buy property for the amount owed .we want the deed in our name and leave the mortage in theirs . can this be done
Posted on: 15th Nov, 2010 03:52 pm
Hi louise!

Welcome to forums!

You will have to inform the seller about your plan and check out if he or she agrees to it. If the seller agrees, then you can go ahead with the deal. However, once the property is sold off, the mortgage dues has to paid off in full.

Feel free to ask if you've further queries.

Sussane
Posted on: 16th Nov, 2010 12:26 am
Me and friend own a property but only my name is on the loan documents and both our names are on the deed of trust. I want to get out this loan. What am i suppose to do in order for me to be out of the loan?
Posted on: 03rd Feb, 2011 08:35 am
you will have to sell off the property or ask the other owner to refinance the mortgage in his or her name in order to release you from the liability from paying off the mortgage payments.
Posted on: 04th Feb, 2011 01:46 am
my parents want to quit claim deed the house to me, anyone know if i have to pay the state and county transfer and recordation tax? i live in baltimore county, maryland.

thanks.
Posted on: 04th Feb, 2011 05:16 pm
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