Posted on: 21st Apr, 2010 01:07 pm
what i am looking to do is add someone to the deed that has not taken out the mortgage with the 2 individuals who are on it already. trying to determine the pros and cons of both a complete transfer to person or just adding the perosn. which is better or less of a problem
in doing a quit claim deed what rights does this give the person who is being added?
yr. previous answer to what if any problems might the bank present if they found out, were you referring to a quit claim deed transferring property from 2 persons to just 1 who is not on loan or just adding another person?
who determines the transfer tax amount, the county or attorney?
is there a different amount for complete transfer as opposed to just added 1 person?
can and will the bank forclose on property if they ask for full amount and we are unable to pay it?
in doing a quit claim deed what rights does this give the person who is being added?
yr. previous answer to what if any problems might the bank present if they found out, were you referring to a quit claim deed transferring property from 2 persons to just 1 who is not on loan or just adding another person?
who determines the transfer tax amount, the county or attorney?
is there a different amount for complete transfer as opposed to just added 1 person?
can and will the bank forclose on property if they ask for full amount and we are unable to pay it?
Welcome swannstreety,
You can add a person to the property deed with the help of a quit claim deed. Once the person is added to the deed, he will become a part owner of the property and will have ownership rights to it. The transfer tax amount will be decided by the county. The bank will have the rights to recover the dues in full if you're unable to pay it off.
You can add a person to the property deed with the help of a quit claim deed. Once the person is added to the deed, he will become a part owner of the property and will have ownership rights to it. The transfer tax amount will be decided by the county. The bank will have the rights to recover the dues in full if you're unable to pay it off.