Posted on: 20th Oct, 2007 07:55 am
A parent wanting to quitclaim deed it to more than one child.
Do the grantees have to qualify like they would for a loan or mortgage on the property?
Do the grantees have to qualify like they would for a loan or mortgage on the property?
no, as long as you don't owe anything. if they are needing a mortgage then yes they would need to qualify.
a quit claim deed transfers ownership of a property but does not guarantee the transferring party has the right to do so. that is all that it does. if you know a property has clear title it doesn't really matter. however when possible it may be better to use a warranty deed. just depends on the situation.
a quit claim deed transfers ownership of a property but does not guarantee the transferring party has the right to do so. that is all that it does. if you know a property has clear title it doesn't really matter. however when possible it may be better to use a warranty deed. just depends on the situation.
Hi,
Yes, it is possible to quit claim property to more than one grantee.
Yes, it is possible to quit claim property to more than one grantee.
Hi,
A quitclaim deed can be given to more than one grantee and the grantees need not to qualify for it. They may need to qualify for a loan or mortgage on the property but not for the quitclaim deed.
With best wishes,
Larry
A quitclaim deed can be given to more than one grantee and the grantees need not to qualify for it. They may need to qualify for a loan or mortgage on the property but not for the quitclaim deed.
With best wishes,
Larry
A quitclaim deed can be given to more than one grantees.No matter what will happen, example their mortgage,loan,credit. they will not affect the grantee of the quitclaim. if the parents have a loan on the property, the loan will be transfer to the grantee. but they would better let the lender to be notified.