Posted on: 30th Jan, 2009 09:17 am
does the person stated in the quitdeed form excluded from or included in the mortgage upon the passing of the principle borrower
Hi jamie!
Welcome to forums!
If the person stated in the quitclaim deed has his/her name on the mortgage, then he/she will be liable to pay off the debts after the death of the principle borrower. If that person's name is not on the deed, then he/she will not be liable for the mortgage.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
If the person stated in the quitclaim deed has his/her name on the mortgage, then he/she will be liable to pay off the debts after the death of the principle borrower. If that person's name is not on the deed, then he/she will not be liable for the mortgage.
Feel free to ask if you have further queries.
Sussane