Posted on: 29th Oct, 2010 04:16 am
hi, can i use the quitclaim deed to remove my name as co owner of a property mortgage?
Welcome rose,
You can use a quitclaim deed in order to remove your name from the property. However, it will not help you in removing your name from the mortgage. The other borrower of the mortgage will have to refinance it in his or her name. Once he or she does so, you won't be liable for the mortgage.
You can use a quitclaim deed in order to remove your name from the property. However, it will not help you in removing your name from the mortgage. The other borrower of the mortgage will have to refinance it in his or her name. Once he or she does so, you won't be liable for the mortgage.