Posted on: 16th Sep, 2007 07:51 pm
I recently have been quick claimed on a deed, when can I start claiming the interest on the home? Also, am I also liable for the mortgage?
hi tony,
welcome to the forum.
once you have been quitclaimed on a deed, you have gained ownership rights over the property. now, you have full rights towards the house and you can claim any interest out of it.
after title transfer, even if the loan is not in your name, the lender may require you to refinance it in your name. refinance is necessary because of the title change from the time the actual loan was taken.
welcome to the forum.
once you have been quitclaimed on a deed, you have gained ownership rights over the property. now, you have full rights towards the house and you can claim any interest out of it.
after title transfer, even if the loan is not in your name, the lender may require you to refinance it in your name. refinance is necessary because of the title change from the time the actual loan was taken.
If you have received property-interest through quitclaim deed, then this does not mean that you are liable for the home loan. A quitclaim deed does not transfer mortgage debt. So, even if the transferor has a loan on his home, you will not be responsible for it until aand unless the lender may ask the former to take his name off so that you can refinance it in your name.