Posted on: 07th Nov, 2010 05:14 am
I have a cousin who owns a home in Ga. He may end up being part of a paternity battle. To avoid the mother taking his house from him, which he currently rents out, he wants to quit claim his interest to his sister. There is a mortgage on the property. Will only his interest transfer? Would his sister have any obligation on the mortgage? (I am guessing no from reading previous posts). Is there a chance that the mortgage company would call the mortgage due, and then would either cousin have any interest if that happened? Can a quit claim temporarily help a person avoid legal entanglements? Thanks.
Hi azdmarie,
Your cousin can transfer the property to his sister. This will make the sister one of the owners of the property. As the sister's name is not mentioned on the mortgage docs, she won't be liable for the mortgage dues. The persons whose names are mentioned on the mortgage docs will be liable for it.
Your cousin can transfer the property to his sister. This will make the sister one of the owners of the property. As the sister's name is not mentioned on the mortgage docs, she won't be liable for the mortgage dues. The persons whose names are mentioned on the mortgage docs will be liable for it.