Posted on: 05th Mar, 2010 10:47 pm
three years ago my sister added me on her title as joint tenant through a quit claim deed. her mortgage company has now filed for foreclosure, and i was served with these documents. to avoid future problems, we want to file another quit claim deed granting my interest back to her. is this that right way to do it, just file another quit claim deed (2 grantors, 1 grantee)?
Hi bsierra!
Welcome to forums!
As far as I can understand your situation, your name is mentioned on the property deed but not on the mortgage. Thus, if the property is foreclosed by the lender, it won't have a negative effect on you. However, if you still want to transfer ownership of the property to her, then you can use a quit claim deed. For further advice on this issue, you can consult a real estate attorney.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As far as I can understand your situation, your name is mentioned on the property deed but not on the mortgage. Thus, if the property is foreclosed by the lender, it won't have a negative effect on you. However, if you still want to transfer ownership of the property to her, then you can use a quit claim deed. For further advice on this issue, you can consult a real estate attorney.
Feel free to ask if you've further queries.
Sussane
i am in the same circumstance. i was put on a title as joint tenant w/right of survivorship to do a refinance on a home with two individuals. i ended up getting deployed and could not manage the paperwork from overseas and everything fell through. now i am being sent a "notice of trustee's sale", basically telling me they are auctioning the home. how does this affect me and can i avoid my name being involved in this? i am not on the mortgage.
-jesse
-jesse
Hi jc,
Your query has been replied to in the given page:
http://www.mortgagefit.com/quitclaim/auctionhouse-affect.html
Take a look at it. Hope it helps you.
Thanks
Your query has been replied to in the given page:
http://www.mortgagefit.com/quitclaim/auctionhouse-affect.html
Take a look at it. Hope it helps you.
Thanks