Posted on: 05th Aug, 2009 10:36 am
If my mother was to move in with me and we were to use her home as a investment property. Can we simply do a quit claim for the property to be put in my name or must a warranty deed be done. The home is completly paid off.
However, many years ago the town did upgrades to the house and part of the contract was that bill did not have to be paid until the house was sold. So there is some sort of lein on the property in case it is sold. Is a quit claim even possible with that lein? How should i proceed?
However, many years ago the town did upgrades to the house and part of the contract was that bill did not have to be paid until the house was sold. So there is some sort of lein on the property in case it is sold. Is a quit claim even possible with that lein? How should i proceed?
Hi kimbo,
Your query has been answered in this given page:
http://www.mortgagefit.com/inprocess/about25715.html#112023
Please take a look at it. I hope it'll help you.
Your query has been answered in this given page:
http://www.mortgagefit.com/inprocess/about25715.html#112023
Please take a look at it. I hope it'll help you.
I just returned from the county clerks offices. At the clerks office you can do a search by property or by name. I saw the lien that my mother was telling me about it is attached to the property if sold (20K). When i did a search by name there was several judgements attached (credit cards) to her name. Can the property be quit claimed with those judgements attached to her name? If she quit claim am i responsible for that debt?
What is the difference between liens and judgements?
attached to person? attached to property?
What is the difference between liens and judgements?
attached to person? attached to property?
Hi kimbo!
Welcome to forums!
The property can be quitclaimed with the debts and liens attached to it but there are chances that the grantee would not accept the property as he/she would become liable for the debts.
A judgment is issued against a person but a lien is placed against a property. One cannot place a lien until he/she gets a court order for the same.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The property can be quitclaimed with the debts and liens attached to it but there are chances that the grantee would not accept the property as he/she would become liable for the debts.
A judgment is issued against a person but a lien is placed against a property. One cannot place a lien until he/she gets a court order for the same.
Feel free to ask if you've further queries.
Sussane
thanks SS for the info. So a lien is against the property but a judgement is against the person. I understand about the lein on the property i am willing to deal with that. But will i be responsible for the judgements as well. The judgements that are levied against the person? That maybe a little more than i am willing to deal with right now.
Hi kimbo,
The court issues a judgment against a person and then the lender would be able to place a lien on the property. Once the lien is paid off, you would get a lien release certificate from the creditor.
The court issues a judgment against a person and then the lender would be able to place a lien on the property. Once the lien is paid off, you would get a lien release certificate from the creditor.