Posted on: 07th Mar, 2009 07:51 am
can a quite claim deed be done on a mortgage
hi guest,
a quitclaim deed can only transfer one's share in the property to another. it cannot transfer any financial obligations such as a mortgage. however, in order to get rid of the mortgage what you can do is, you can quitclaim the property to the person you intend to and then have him/her refinance it in his/her name. this will remove your name from the mortgage.
thanks,
jerry
a quitclaim deed can only transfer one's share in the property to another. it cannot transfer any financial obligations such as a mortgage. however, in order to get rid of the mortgage what you can do is, you can quitclaim the property to the person you intend to and then have him/her refinance it in his/her name. this will remove your name from the mortgage.
thanks,
jerry