Posted on: 30th Jul, 2013 12:58 am
I am buying a house. The Realtor with whom I am working is saying that I need to sign the letter called quit claiming to my parents. What does this mean? Does this all mean that I am giving the property rights to my parents?
If you sign a quitclaim deed and if you mention your parents as grantee, then they will become the owner of the property. You won't have any ownership rights over that property.
Hi Sontoparents,
Niicss is right in saying so. If you transfer your property to your parents, then make sure that they take out the mortgage.
Niicss is right in saying so. If you transfer your property to your parents, then make sure that they take out the mortgage.