Posted on: 10th Aug, 2009 02:31 pm
less than two months to live. mortgage debt on home. preparing homemade will. mother wishes to quit claim deed to daughter with stipulation in the will that she must assume full responsibility for mortgage, taxes, insurance and utilities. can a deed be ouit claimed to another before death if there is a debt owed on mortgage?
Hi Guest,
The mother can sign a quitclaim deed and transfer the property to the daughter before her death. The daughter can then refinance the loan in her name. Once she refinances the loan in her name, the mother will no longer be liable for paying the mortgage dues.
Thanks
The mother can sign a quitclaim deed and transfer the property to the daughter before her death. The daughter can then refinance the loan in her name. Once she refinances the loan in her name, the mother will no longer be liable for paying the mortgage dues.
Thanks