Hi AnnMarie and Gene.
Welcome to the forum.
If you quitclaim the property to your son and daughter-in-law then they will get the property but it the property is mortgaged then at least you need to inform the lender and take his confirmation before you sign the quitclaim deed. He may ask them to refinance. Through navation you can also transfer the mortgage on your son and daughter-in-law. But in this case you, your son and daughter-in-law and the lender all need to agree with that.
But I think it is better if they can refinance.
Best of luck,
Larry
Welcome to the forum.
If you quitclaim the property to your son and daughter-in-law then they will get the property but it the property is mortgaged then at least you need to inform the lender and take his confirmation before you sign the quitclaim deed. He may ask them to refinance. Through navation you can also transfer the mortgage on your son and daughter-in-law. But in this case you, your son and daughter-in-law and the lender all need to agree with that.
But I think it is better if they can refinance.
Best of luck,
Larry
Only if you get the lender to agree to have them assume the mortgage.
