Posted on: 20th Aug, 2009 03:43 pm
Both of my parents name was on the deed but not on the loan. We were suppose to pay half of the mortgage payment monthly but they don't want to pay anymore and they also don't want to sign the quitclaim so I can keep continuing to pay for the house myself and they won't have anymore share. What is the best thing for me to do? By the way, there is no equity on the house. It's below the market price.
i do nto know if there is any legal action you can take, unless they give you quit claim deed, there no way you cna do anything, except makepayments, if you want to keep the house
Hi jay,
Unless your parents sign a quitclaim deed and transfer the property to you, you won't be able to have full ownership of the property. As far as the loan is concerned, you'll have to pay it off or else the lender would foreclose the property. In my opinion, you can offer a certain sum of money to your parents and ask them to transfer the ownership to you.
Unless your parents sign a quitclaim deed and transfer the property to you, you won't be able to have full ownership of the property. As far as the loan is concerned, you'll have to pay it off or else the lender would foreclose the property. In my opinion, you can offer a certain sum of money to your parents and ask them to transfer the ownership to you.