Posted on: 07th Jan, 2009 05:52 am
If my name is on the title and loan with my daughter and I do a quit claim to get my name removed, it is removed from both the title and the loan?
hi janice,
the quitclaim deed will only remove your name from the property deed. it will not remove your name from the mortgage note. you will still be responsible for the mortgage payments. your daughter will have to refinance the property in her name in order to remove your name from the mortgage docs.
thanks,
jerry
the quitclaim deed will only remove your name from the property deed. it will not remove your name from the mortgage note. you will still be responsible for the mortgage payments. your daughter will have to refinance the property in her name in order to remove your name from the mortgage docs.
thanks,
jerry