Posted on: 15th Dec, 2010 05:40 pm
In a divorce, if a party signs a quickclaim deed to the spouse, are they still responsible to the bank for the loan.
hi misti_todd!
welcome to forums!
signing a quitclaim deed won't remove a person from the mortgage. the person who becomes the sole owner of the property will have to refinance the mortgage in his or her name to release the other person from mortgage obligations.
feel free to ask if you've further queries.
sussane
welcome to forums!
signing a quitclaim deed won't remove a person from the mortgage. the person who becomes the sole owner of the property will have to refinance the mortgage in his or her name to release the other person from mortgage obligations.
feel free to ask if you've further queries.
sussane