Posted on: 06th Jul, 2010 05:35 pm
my 18 and 21 year old children inherited our home when their father died. It needs to be paid off and they want to deed it to me so I can finance. Is there an issue with this and once deeded to me (quitclaim?) is it considered my asset?
Hi soxlover!
Welcome to forums!
Once your children sign a quit claim deed and transfer the property to you, then it will be considered as your asset. Depending upon your income and credit, you will be able to qualify for a loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Once your children sign a quit claim deed and transfer the property to you, then it will be considered as your asset. Depending upon your income and credit, you will be able to qualify for a loan.
Feel free to ask if you've further queries.
Sussane