Posted on: 12th Nov, 2008 08:15 am
hello,
i bought the house and my husband was the lender. it is registered in the security deed. it says that i have to pay the loan back. he wants me to sign the quit claim deed into his name. what happens with the loan. do i need to sign another document with release from the loan? thank you.
i bought the house and my husband was the lender. it is registered in the security deed. it says that i have to pay the loan back. he wants me to sign the quit claim deed into his name. what happens with the loan. do i need to sign another document with release from the loan? thank you.
hi joan!
welcome to forums!
once you sign the quitclaim deed and transfer the property in his name, your husband needs to refinance the mortgage. once he refinances, the mortgage will be transferred in his name.
feel free to ask if you have further queries.
sussane
welcome to forums!
once you sign the quitclaim deed and transfer the property in his name, your husband needs to refinance the mortgage. once he refinances, the mortgage will be transferred in his name.
feel free to ask if you have further queries.
sussane
Sussane,
Thank you for your answer. There is no mortgage. My husband is the lender. The security deed says that I have to repay the loan to him. If I sign the quitclaim deed into his name, do I still have the obligation to repay the money?
Thank you very much.
JoAn
Thank you for your answer. There is no mortgage. My husband is the lender. The security deed says that I have to repay the loan to him. If I sign the quitclaim deed into his name, do I still have the obligation to repay the money?
Thank you very much.
JoAn
JoAn it would seem that in the transfer of ownership from you to your husband, that you'd be absolved of any responsibility for the loan.
i have a very serious question here - have you and your husband discussed this at all? from the tone of your questions, it would seem that you've both been uncommunicative about this. why would that be? don't you think it wise to find out his intentions?
i have a very serious question here - have you and your husband discussed this at all? from the tone of your questions, it would seem that you've both been uncommunicative about this. why would that be? don't you think it wise to find out his intentions?
Hello Mr. Akerley,
Thank you for your response.
My husband is very devious person. He is not going to tell me his intentions. He can sit and think for a days to come up with ideas how to scheme the people out of money. Im trying to get away from him. I dont want for him to get the property and come after me for the loan money.
Thanks a lot.
JoAn
JoAn
Thank you for your response.
My husband is very devious person. He is not going to tell me his intentions. He can sit and think for a days to come up with ideas how to scheme the people out of money. Im trying to get away from him. I dont want for him to get the property and come after me for the loan money.
Thanks a lot.
JoAn
JoAn
i wish you well, JoAn. this sounds like a pretty stressful situation.