Posted on: 19th Feb, 2010 07:09 pm
i am buying a home with my mother-in-law as a co-borrower in order to get the loan. if she signs a quit claim deed, is she giving up the right to collect a profit when i sell the property?
Welcome krisley,
If your mother-in-law signs the quit claim deed and transfers the property to you, then you become the sole owner of the property. Thus, she won't have any rights to the property. In that case, she won't be able to collect any profit from you if you sell off the property.
If your mother-in-law signs the quit claim deed and transfers the property to you, then you become the sole owner of the property. Thus, she won't have any rights to the property. In that case, she won't be able to collect any profit from you if you sell off the property.