Posted on: 20th Jan, 2010 07:09 pm
I bought out my daughters husband after her divorce,
so she was able to keep the home. He owned 2/3 of
of home. My daughter had me quit claimed on the deed.
Do I have any rights?
so she was able to keep the home. He owned 2/3 of
of home. My daughter had me quit claimed on the deed.
Do I have any rights?
Hi Ken,
Is your name listed on the deed to the home? You have mentioned that your daughter had you quitclaim, right? So, does that mean you had your name on the property title, but you have signed your ownership rights to your daughter through a quit claim deed? If this is what you did, then I'm afraid you no longer have any legal rights to the home. Your name must be on the property title if you want to have legal rights to the property. However, you can still have rights to the property, provided your daughter adds your name back on the title.
Is your name listed on the deed to the home? You have mentioned that your daughter had you quitclaim, right? So, does that mean you had your name on the property title, but you have signed your ownership rights to your daughter through a quit claim deed? If this is what you did, then I'm afraid you no longer have any legal rights to the home. Your name must be on the property title if you want to have legal rights to the property. However, you can still have rights to the property, provided your daughter adds your name back on the title.
Hi,
It's simple & straight forward, if your name mentioned on deed then you have rights on property & if your name not on deed then you have not any rights on property.
Thanks & Regards.
gunz.ijjistaff :lol: :lol: :lol:
It's simple & straight forward, if your name mentioned on deed then you have rights on property & if your name not on deed then you have not any rights on property.
Thanks & Regards.
gunz.ijjistaff :lol: :lol: :lol:
>>do i have any rights?
yes, you're now partial owner of the house. you didn't mention whether he was quit claimed off the deed. if not, all 3 of you now own the house. you also didn't mention anything about the mortgage? who's on the mortgage note? if you changed title with a quit claim, the due-on-sale clause can be invoked and the lender can call the note due and payable. and if the husband and wife are on the mortgage, then the husband is still 100% liable for the mortgage.
lenders hate it when homeowners quit claim title, thus the reason for the due-on-sale clause. the proper way to do the transaction is with a refinance, because that ensure the note and title match.
yes, you're now partial owner of the house. you didn't mention whether he was quit claimed off the deed. if not, all 3 of you now own the house. you also didn't mention anything about the mortgage? who's on the mortgage note? if you changed title with a quit claim, the due-on-sale clause can be invoked and the lender can call the note due and payable. and if the husband and wife are on the mortgage, then the husband is still 100% liable for the mortgage.
lenders hate it when homeowners quit claim title, thus the reason for the due-on-sale clause. the proper way to do the transaction is with a refinance, because that ensure the note and title match.
well said, raymond. consumers do lots of things that lenders don't like, but there's certainly an issue when ownership is changed and the lender isn't notified. the due on sale clause is really nothing to monkey around with, and what seems to be a simple thing - a quit claim transferring ownership - can become a major ordeal in some cases.
