Posted on: 19th Jan, 2010 01:43 pm
We sold a house but the new owner/ title company never recorded the warranty deed. If we file and have a quit clim deed recorded does the new owner need to accept or acknowledge it? If they subsequently fail to pay their mortgage or taxes would we have any liability?
Hi Guest!
Welcome to forums!
A property deed needs to be recorded at the county recorder's office in order to make it valid. If the new owner of the property has not recorded it, then the deed may not be considered as valid. It is not mandatory for the grantee to sign the quitclaim deed in most of the states. If the mortgage is in the name of the grantee and if he/she fails to pay it, then the lender will not come after you. He will sue the grantee for the dues.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
A property deed needs to be recorded at the county recorder's office in order to make it valid. If the new owner of the property has not recorded it, then the deed may not be considered as valid. It is not mandatory for the grantee to sign the quitclaim deed in most of the states. If the mortgage is in the name of the grantee and if he/she fails to pay it, then the lender will not come after you. He will sue the grantee for the dues.
Feel free to ask if you've further queries.
Sussane
Thank you for teh reply. How would Home Owners Assc dues work? The new owner has failed to pay and the HOA has placed a lien on the property. We just want to be done with it.
Hi Guest,
As you have transferred the property to the new buyer, you shouldn't be held responsible for the property anymore. The new owner will have to pay off the lien that has been placed on the property. However, if the property transfer is not recorded, then there are chances that the HOA will consider you as the owner of the property and may sue you for it.
As you have transferred the property to the new buyer, you shouldn't be held responsible for the property anymore. The new owner will have to pay off the lien that has been placed on the property. However, if the property transfer is not recorded, then there are chances that the HOA will consider you as the owner of the property and may sue you for it.