Posted on: 28th Jul, 2009 09:18 am
My father quitclaimed half of his home and property to my sister. Now he has decided he wants to give that half to another sibling of hers instead. To my understanding, he can not do this. Once the quitclaim deed is filed the ownership is hers...but my question is, since the home is not yet paid for and he still owes the bank on it, is the presently filed quitclaim deed even valid?
If indeed the quitclaim deed is not valid, due to his not possessing ownership of the title to the house, how should he go about getting the quitclaim deed off the county courthose books...?
If indeed the quitclaim deed is not valid, due to his not possessing ownership of the title to the house, how should he go about getting the quitclaim deed off the county courthose books...?
quit claim deed does not guarantee that property is free of mortgage. therefore, it is valid provided it is notarized.
only option, if existing owner agrees, she can do quit claim deed to others.
only option, if existing owner agrees, she can do quit claim deed to others.
hi guest,
your father has only transferred a portion of his property to your sister. he can definitely transfer the rest of the property to someone else. however, as the mortgage is in his name, the new owners of the property will have to refinance the mortgage in their name. or else the lender may claim the loan due.
take care.
your father has only transferred a portion of his property to your sister. he can definitely transfer the rest of the property to someone else. however, as the mortgage is in his name, the new owners of the property will have to refinance the mortgage in their name. or else the lender may claim the loan due.
take care.