Posted on: 24th Mar, 2010 04:55 pm
my aunt wants to quit claim deed a property to me .however, there is a mortgage that is owner financed on said property. how could we go about doing this as i cannot get a conventional mortgage.
Welcome ray,
Your aunt can transfer the property to you with the help of a quit claim deed. You will then have to negotiate with the person who is owner financing the property and get the loan transferred in your name. You will have to sign an agreement with him if he agrees to do so.
Your aunt can transfer the property to you with the help of a quit claim deed. You will then have to negotiate with the person who is owner financing the property and get the loan transferred in your name. You will have to sign an agreement with him if he agrees to do so.