Posted on: 14th Sep, 2008 02:17 pm
I want to transfer the deed to my sons' name and I will still be responsible for the mortgage payments therefore do I have to notify the mortgage holder of the transfer of the deed to my sons' name? Secondly, the deed has not yet been recorded in my name or the mortgage but it is signed, notortized and legal. Must this be recorded first in my name, before I do a quitclaim with my son? Is there a deadline or fine on recording property in Hawaii?
Welcome Earthaged,
Yes you should notify the mortgage holder about the quitclaim transfer. And before you do so, just check out the loan doc as to whether it imposes any penalty if you transfer part of property while you're managing a mortgage.
Yes you should notify the mortgage holder about the quitclaim transfer. And before you do so, just check out the loan doc as to whether it imposes any penalty if you transfer part of property while you're managing a mortgage.