Posted on: 17th Sep, 2010 09:28 pm
my friend and i, jointly own a property in ky. and there is a mortgage on the property that is secured jointly as well. i like to give my share of the property by a quit claim deed to my son. by doing so can/will the bank/mortgage holder recall the loan or can it stay as is, since my my friend is still a signatory to the mortgage. i also know that with a quit claim deed to my son the mortgage on the property will not go away.