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my husband and his father bought a house together, but my husband wants to transfer the property to his dad only and buy another on our behalf. what would the process carried out?

Posted on: 08th Nov, 2010 04:39 am
my husband and his father bought a house together, but my husband wants to transfer the property and buy another on our behalf. what would the process carried out?
hi lunamoon1985,

welcome to mortgage fit,

there are two possibilities.........

1.your husband is on mortgage as well as on deed of the property along with your father in law...

in this situation your husband need to quitclaim the property to your in laws and your in-laws need to refinance the mortgage on their name.if they are not qualified to get mortgage on their own someone (family member,friend) should co-sign the mortgage.

2.your husband is only on the deed of the property..........

in this situation your husband only need to sign a quitclaim deed towards your in-laws.

in order to find more about quitclaim deed you may visit below mentioned link.
http://www.mortgagefit.com/search/quitclaim-deed.html

feel free to ask any further query if you have..........

dipa
Posted on: 08th Nov, 2010 07:46 am
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