Posted on: 31st May, 2010 05:37 am
my son and his girlfriend bought a fixer up house together 3 months ago she has decided to leave and doesnt want any part of the house. morgage is in both of there names.at this point cannot refinance because loan so new. she says she will sign a quit claim, does the quit claim means she gives up all intrest in house until he refinances
Hi,
You are correct. If your son's girlfriend agrees to sign a quitclaim then your son will become the sole owner of the property. However, his girlfriend will still remain liable for the mortgage loan until and unless your son re-finances the loan in his name.
You are correct. If your son's girlfriend agrees to sign a quitclaim then your son will become the sole owner of the property. However, his girlfriend will still remain liable for the mortgage loan until and unless your son re-finances the loan in his name.
No, by signing a quitclaim, she's removing herself from Title. He will have to refinance to pull her off the mortgage.
