Posted on: 04th Jul, 2010 09:01 am
can a person quit claim a property in fl over to another person, on the mortage without the lenders permission?
They can do anything they want without the lenders permission, whether it will trigger the "due on sale clause" with the mortgage is another matter all together. I highly suggest you do not do that unless you want to roll the dice and find out what kind of financial mess you can get yourself in. Always ask the lender.
Hi,
Yes, you can quitclaim a property to someone's name without your lenders permission. However, if there is any mortgage against that property then the new lender needs to re-finance the mortgage in his/her name otherwise you will remain responsible for the mortgage. I would suggest you to consult with your lender before transferring the property.
Hope this will help you.
Yes, you can quitclaim a property to someone's name without your lenders permission. However, if there is any mortgage against that property then the new lender needs to re-finance the mortgage in his/her name otherwise you will remain responsible for the mortgage. I would suggest you to consult with your lender before transferring the property.
Hope this will help you.
