Posted on: 20th Feb, 2009 01:16 pm
I am changing mortgagees, paying off one with the proceeds from another. The only change involved is that, in the case of the earlier loan, my wife was not included as a borrower. She will now be included on the deed and the mortgage as well.
Since no one is passing the ownership to anyone else, I see no need for a quitclaim deed. Can you enlighten me?
Since no one is passing the ownership to anyone else, I see no need for a quitclaim deed. Can you enlighten me?
hi e_traub ,
if your wife's name is already in the title to the property, there's no need for a quitclaim deed as it involves no transfer of ownership. you can use a quitclaim deed if your wife isn't on the title and you wish to add her to it. as far as including her name in the mortgage is concerned, you can do that easily with a refinance.
if your wife's name is already in the title to the property, there's no need for a quitclaim deed as it involves no transfer of ownership. you can use a quitclaim deed if your wife isn't on the title and you wish to add her to it. as far as including her name in the mortgage is concerned, you can do that easily with a refinance.