Posted on: 13th Jan, 2009 05:32 am
if i sign a quit claim deed to my son on a townhouse, in miami, fla, do i still have responsibility for the original mortgage with the bank?
Yes you do. The quit claim deed only transfers ownership of title and does not have an effect on the note. If you want both the title and the note to be in your son's name, then you should consider selling the property to him for the outstanding balance of the note.