Posted on: 30th Aug, 2010 12:52 pm
Hello, my question regards to "renting" a condo in which the owner of the property has a quitclaim arrangement. Currently, the owner lives out of town and a grantee is living in the condo. The owner is out of country constantly. The owner has also stated that the current "tenant" or grantee is scheduled to leave and so he is looking for a new grantee. How does this work? Will I pay property taxes, all maintenance, etc...? Regards.
Hi Youngman!
Welcome to forums!
If the grantor has already transferred the property to the grantee, then the grantee would be considered as the owner of the property. The grantor won't be able to transfer the property to you. The grantee would be able to transfer the property to you. Once the property is transferred to you, then you would become liable for the property taxes, maintenance, etc.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If the grantor has already transferred the property to the grantee, then the grantee would be considered as the owner of the property. The grantor won't be able to transfer the property to you. The grantee would be able to transfer the property to you. Once the property is transferred to you, then you would become liable for the property taxes, maintenance, etc.
Feel free to ask if you've further queries.
Sussane