Posted on: 02nd Aug, 2011 04:11 pm
If I want to protect my primary residency from a possible lien by the second house' mortgagor, which deed transfer be better..the warranty or the quitclaim?
Hi gina,
If there is no other mortgage in your property, then you can use a warranty deed in order to transfer the property. However, I think it will be a better option to place the property in a trust which will help you in saving the property from a lien.
If there is no other mortgage in your property, then you can use a warranty deed in order to transfer the property. However, I think it will be a better option to place the property in a trust which will help you in saving the property from a lien.
Consult for a mortgage broker to be able to have a good assessment on your case since there are certain factors that you have to take a look first for you to know what you can really do to protect your primary residency.
