Posted on: 27th Mar, 2008 09:34 am
My family of 6 have been living in a home that was purchased by a family member. We have been living here for 12 years making necessary repairs and paying the mortage for the past 4-5 years. Now this family member has moved in with us and has been living with us for about 6 years. We would like to quit claim the home to us. She is in her late 80's and was wondering how we would go about this? I really do not want to see my family homeless do to another family member being greedy. What are my options??? Will a lawyer even help us considering her age??
hi,
welcome to the forum.
as this is a mortgaged property i think she can add all six family members on the deed by using a quitclaim deed. but you should also inform the lender about this and take his consent. he may ask you ta refinance the loan to add all of the members on the mortgage.
feel free to ask if you have any further questions.
best of luck,
larry
welcome to the forum.
as this is a mortgaged property i think she can add all six family members on the deed by using a quitclaim deed. but you should also inform the lender about this and take his consent. he may ask you ta refinance the loan to add all of the members on the mortgage.
feel free to ask if you have any further questions.
best of luck,
larry
Hi Fullnest,
The family member needs to sign on a quitclaim deed and transfer the property to all of you. Each one of you will have a certain share of interest in the property. Know how a quitclaim works... .
By the way, who's on the mortgage?
Regards,
Jessica.
The family member needs to sign on a quitclaim deed and transfer the property to all of you. Each one of you will have a certain share of interest in the property. Know how a quitclaim works... .
By the way, who's on the mortgage?
Regards,
Jessica.
