Posted on: 24th Feb, 2010 09:26 am
my name is not on the mortgage loan (promissory note) but is on the deed and the deed of trust. if i file a quit claim deed to remove my name from the deed will it also remove my name from the deed of trust. if not, how do i get my name off the deed of trust and if i can't, what is the liability or impact of that to me.
Welcome rpettis,
Signing a quit claim deed will remove your name from the property but not from the deed of trust. If there is a co-borrower of the loan, then that person needs to refinance the loan in his/her name. If your name remains on the loan, then you would be liable for the mortgage payments.
Signing a quit claim deed will remove your name from the property but not from the deed of trust. If there is a co-borrower of the loan, then that person needs to refinance the loan in his/her name. If your name remains on the loan, then you would be liable for the mortgage payments.