Posted on: 28th Mar, 2009 11:50 am
when you quit claim a deed does the loan also transfer to person as well
Hi shannonamoreland,
When you sign a quitclaim deed it does not transer the loan. If you quitclaim you give up your interest in the property. But if your name is still on the mortgage, you will be held responsible for it, even though the title to the property is no more in your name.
When you sign a quitclaim deed it does not transer the loan. If you quitclaim you give up your interest in the property. But if your name is still on the mortgage, you will be held responsible for it, even though the title to the property is no more in your name.