Posted on: 25th Oct, 2008 10:32 am
Will a quitclaim deed protect creditors from putting a lien on a home if several months of a motorcycle note are not paid?
Hi bandsbearb!
I think such kind of a transfer will be taken as a fraudulent transfer and the lender may penalize you for that. And as far as I know, quitclaim cannot be used in case of vehicles. Moreover quitclaim will never take off the mortgage from your name. So the lenders will be after you if you do not pay the loan.
Thanks.
I think such kind of a transfer will be taken as a fraudulent transfer and the lender may penalize you for that. And as far as I know, quitclaim cannot be used in case of vehicles. Moreover quitclaim will never take off the mortgage from your name. So the lenders will be after you if you do not pay the loan.
Thanks.