Posted on: 22nd Sep, 2008 10:40 am
if there is a borrower and co-borrower on a mortgage and deed, do they both have to sign the "quit claim deed" and how do and how do you be sure of the ownership rights of the property
Hi kcleveland!
Welcome to the forums!
While signing a quitclaim deed, the grantor (seller) has to sign in the deed. However, there are some states in which the grantee (buyer) has to sign as well. Once the deed is signed, you will have to record the deed at the county recorders office. You can retain some right to the property in case you have added a clause of life estate in the deed. In that case, you can stay in that house until death. If not then the property is of the grantee (buyer).
Feel free to ask if you have further queries.
Sussane.
Welcome to the forums!
While signing a quitclaim deed, the grantor (seller) has to sign in the deed. However, there are some states in which the grantee (buyer) has to sign as well. Once the deed is signed, you will have to record the deed at the county recorders office. You can retain some right to the property in case you have added a clause of life estate in the deed. In that case, you can stay in that house until death. If not then the property is of the grantee (buyer).
Feel free to ask if you have further queries.
Sussane.
Obtain a title report to verify ownership rights.
