quit claim loophole?

I forgot to mention that the "mystery loan" she got was before she deeded the house to me.

Hi bill!

Welcome to forums!

If your name is mentioned on the property deed, then you will be considered as the owner of the property and no one can take a mortgage on it. I would suggest you to contact a real estate attorney and take his opinion in this matter.

Feel free to ask if you've further queries.

Sussane

I know i am considered owner with the deed. What about any loan made to the grantor (my grandparents) which was "supposedly" made before they quit claimed it to me?

Hi bill,

If there is a mortgage on the property, then it needs to be paid off. If you don't pay off the mortgage, then the lender will have the rights to foreclose the property.

Thanks

if the loan was made before I was put on the deed, how does that effect my interest? The mortgage is supposedly between my grandparents and a private personal lendor.

Hi bill,

As the mortgage is not in your name, you're not personally liable for the mortgage. The lender won't be able to come after you if you fail to make the payments. However, as the lender holds the lien on the property, he will be able to foreclose it if the payments are not made.

Thanks

have you ever heard of a lien "being made up" four years after the fact just to make the quit claim deed invalid? ( the deed has been recorded)

Hi bill,

A lien cannot be made up. I have never heard of a lien "being made up" just to make the quit claim deed invalid.

Thanks

I appreciate the feedback! I know it is an unusual and confusing situation I will try to explain better: my grandparents quit claimed one of their houses to me and them with full rights of surviviorship in 2007. it was recorded at county building. My grandpa has passed away. Now my grandmother and uncle want me out of the house. Their understanding of a quit claim deed is that there is no gaurantee of that they even owned it when they quit claimed it to me. My grandmother is saying that she got a loan on the house before 2007 from a private lender which was not recorded that she forgot about. she claims now they want there money or they will forclose. she says that the loan makes our deed invalid.

i guess my questions are:

1) has anyone ever heard of a senerio like this?
2) what are my rights?
3) will it be easy to prove this unrecorded loan to be fraud? which I am positive is the case

Hi bill!

Welcome to forums!

If the private loan is not recorded, then the lender cannot come after you to get back the dues. If the lender can show the proof of the mortgage, then the loan needs to be paid off in order to save the property. You can ask your grandmother to help you in paying off the loan.

Feel free to ask if you've further queries.

Sussane

thanks for the response sussane! The problem is with my grandmother. She quit claimed the house to me and her (and my grandpa who has deseased) in 2007. She now wants me out of the house and is saying that she got a private loan that she forgot about before 2007. I just want to know how easy is it to doctor up a loan aggreement that will hold up in court (which I believe she will try). I know I would not be liable for any loan I am not on, I just do not want to lose the house that I put all my savings into ffiing up!

Hi bill,

It's not easy to doctor up a loan agreement. There has to be a loan in order to draft a loan agreement.

Thanks