Posted on: 02nd Feb, 2009 10:14 pm
Maybe you can help me. My father has agreed on signing the quitclaim deed for the property located in DC. Now who can help my mother get that document prepared so he can sign it? Is it any lawyer? Or can she go to a notary public ? Please give some tips.
People from other states talk about quitclaim deed. We live in DC, do you know if the quitclaim deed also applies here?
Here is my question one more time: People from other states talk about quitclaim deed. We live in DC, do you know if quitclaim deed also applies here in Washington, DC?
Hi Jaime,
A quitclaim deed is also valid in Washington, DC. You can visit the following page to view a sample copy of a quitclaim form for DC:
http://www.mortgagefit.com/predeal/quitclaim-stateforms.html
A quitclaim deed is also valid in Washington, DC. You can visit the following page to view a sample copy of a quitclaim form for DC:
http://www.mortgagefit.com/predeal/quitclaim-stateforms.html
If a person quitclaims his/her property, can the other person who becomes liable for it kick him or her out of the property?
Hi Jaime,
When a person quitclaims a property to someone else, he/she actually gives up his/her share of interest in the property. Thus after the deed has been signed the person loses all his/her rights to the property. In such a scenario, the person who receives the property can evict him/her from there.
However, if the grantor quitclaims to himself and the other person, both of them remain on the title and thus the other person cannot kick the grantor out of the property. The grantor can also quitclaim while retaining a life estate for him/herself which will allow him/her to stay in the property throughout the lifetime.
When a person quitclaims a property to someone else, he/she actually gives up his/her share of interest in the property. Thus after the deed has been signed the person loses all his/her rights to the property. In such a scenario, the person who receives the property can evict him/her from there.
However, if the grantor quitclaims to himself and the other person, both of them remain on the title and thus the other person cannot kick the grantor out of the property. The grantor can also quitclaim while retaining a life estate for him/herself which will allow him/her to stay in the property throughout the lifetime.
i apologize for asking so many questions, but i have another one. my father has decided to quitclaim the property on my name. after signing the quitclaim deed, he plans to travel to another country. my mother is the co-borrower in the contract with the bank. she and i will be paying the mortgage after he signs the quitclaim deed. in order for us to refinance so that he could be completely removed from the mortgage, do we need his authorization to do that?
Hi Jaime,
Once he quitclaims the proeprty to you, he gives up all his share in the property and the title is transferred in your name. Once you get the title you can easily refinance it in your name, removing your father from the mortgage. Thus, I don't think his authorization is required for you to refinance as the title will be changed and he will give up his property-interests through the deed.
Once he quitclaims the proeprty to you, he gives up all his share in the property and the title is transferred in your name. Once you get the title you can easily refinance it in your name, removing your father from the mortgage. Thus, I don't think his authorization is required for you to refinance as the title will be changed and he will give up his property-interests through the deed.
My father has signed the quitclaim deed and the property has been transfer to me, to my mother and to my brother. I would like to know if there might be a problem if we let the bank know that the property has been transfered to us.
Hi Jaime,
Most of the mortgages come with a 'due on sale' clause that makes the balance loan amount immediately payable, if any transfer of ownership takes place. Thus, if you inform the bank, they can ask you to pay off the outstanding loan amount. The other option for you would be to refinance the loan in you, your mother and your brother's name and pay off the current debt.
Thanks,
Jerry
Most of the mortgages come with a 'due on sale' clause that makes the balance loan amount immediately payable, if any transfer of ownership takes place. Thus, if you inform the bank, they can ask you to pay off the outstanding loan amount. The other option for you would be to refinance the loan in you, your mother and your brother's name and pay off the current debt.
Thanks,
Jerry