Posted on: 14th Dec, 2008 12:59 pm
my mother in law bought us a condo in 1999. She just signed and recorded with the property appraiser in our county the QUITCLAIM DEED. What does this mean to my husband and I? Do we now own the property free and clear and she has no rights to it?
hi christine w!
welcome to forums!
if your mother in law has made you and your husband the grantees to the property, then both of you are the owner of the property. in this case your mother in law will have no rights to the property provided if she has not included the life estate clause.
if there is no mortgage on the property, then you will hold it free and clear. but if there is a mortgage on the property, then you will have to refinance it.
feel free to ask if you have further queries.
sussane
welcome to forums!
if your mother in law has made you and your husband the grantees to the property, then both of you are the owner of the property. in this case your mother in law will have no rights to the property provided if she has not included the life estate clause.
if there is no mortgage on the property, then you will hold it free and clear. but if there is a mortgage on the property, then you will have to refinance it.
feel free to ask if you have further queries.
sussane