Posted on: 03rd Oct, 2008 12:19 pm
What is the procedure for filling a Quitclaim Deed?
Thank You
Linda
Thank You
Linda
There's no process as such. However, you may go Page No. 3 of the sample quitclaim form at http://www.washingtonlawhelp.org/documents/1593816260EN.pdf?stateabbrev=/WA/ for a simple explanation on how to fill out the deed.
Good luck
Good luck
Can a property on which there is a mortage be quit claimed to one's children?
Anwer is Yes and No. You may transfer if the son/daughter is earning good. And the banks will allow if they have good credit. But if they are not the earners, then answer is No. The children become reponsible for liabilities and the mortgage which becomes not feasible. Someone should be there to bear the responsibility of the loan and taxes. There is a good option suggested in the sticky question: Quit claim by Jessica near the top of these questoions in this eastate planning forum. It suggests of gifting the property, within certain conditions. One more option will be to write the will, wherein the children will have the name as nominee.