Posted on: 08th Aug, 2009 09:17 pm
my brother and I received this house thru quit claim deeds from our parents. He is the primary owner and I am secondary. He never paid for mortgage payment nor property taxes... I am the one that pay for this. It's been four years and now he wants out. I am willing to give him $200,000K to buy him out. What paperwork should I need to file ? I know the property tax would go up, would it make sense for him to do the quit claim deeds or sell his share to me. Thanks
hey jessisha,
your brother will have to sign a quitclaim deed and transfer the property in your name. you can mention the amount you're paying him in the property deed as well. once the deed is filled out and signed, you need to notarize and record it at the county recorder's office. if the mortgage docs have your brother's name, then you need to refinance the mortgage in your name.
your brother will have to sign a quitclaim deed and transfer the property in your name. you can mention the amount you're paying him in the property deed as well. once the deed is filled out and signed, you need to notarize and record it at the county recorder's office. if the mortgage docs have your brother's name, then you need to refinance the mortgage in your name.