Posted on: 03rd Dec, 2009 03:24 am
we live in the UK. my brother owns a house that he has a mortgage. He wants me to have the property because he wants to move back in to his mums house. Can i use a quitclain deed to transfer my name to say i own the property. I will then carry on paying the mortgage on the house
Hi,
What you suggest is possible in the US. But I'm not sure if it'll work in the UK. In the US, a quitclaim deed is a legally valid instrument of transferring property ownership. Thus, here one can take over the property ownership through a quitclaim deed and keep making payments towards the mortgage to keep the house. But you need to check out with a lawyer if a quit claim deed will suit your requirements in this situation.
What you suggest is possible in the US. But I'm not sure if it'll work in the UK. In the US, a quitclaim deed is a legally valid instrument of transferring property ownership. Thus, here one can take over the property ownership through a quitclaim deed and keep making payments towards the mortgage to keep the house. But you need to check out with a lawyer if a quit claim deed will suit your requirements in this situation.