Posted on: 05th Jan, 2009 08:28 pm
hi, my boyfriend and i recently purchased a condo unit in new york, and the mortgage loan is under my boyfriend's name. i am thinking about removing my name off the deed, due to a llc that formed that may have a lawsuit coming my way and may possibly be able to go after my assets. i don't want to ruin / have anything to take away the property that i purchased with my boyfriend since i didn't put any money down for it and it's a 30 years mortgage. please advise! is quit claim deed the answer to my situation? is it expensive to execute?
Hi cookiedeed,
Yes, you can sign a quitclaim deed and transfer the property in your boyfriend's name. A quitclaim deed is not very expensive to execute. You can get sample quitclaim deeds online but you can even take the help of an attorney to draft the deed. Once the deed has been filled out, you need to notarize it and record it at the county recorder's office.
Thanks
Yes, you can sign a quitclaim deed and transfer the property in your boyfriend's name. A quitclaim deed is not very expensive to execute. You can get sample quitclaim deeds online but you can even take the help of an attorney to draft the deed. Once the deed has been filled out, you need to notarize it and record it at the county recorder's office.
Thanks
thank you jameshogg, do you know approximately how long it will take to file the deed /recordig it at the county recorder's office? approximately how much does it cost?
Hi cookiedeed
As far as I know, a deed will take a few days to get filed. The time limit also varies from county to county. According to my knowledge, the recording fee for the quitclaim deed starts from $42 and may vary depending upon the number of pages in the deed as well as the additional lots and blocks.
Thanks.
As far as I know, a deed will take a few days to get filed. The time limit also varies from county to county. According to my knowledge, the recording fee for the quitclaim deed starts from $42 and may vary depending upon the number of pages in the deed as well as the additional lots and blocks.
Thanks.