Posted on: 02nd Oct, 2009 06:35 pm
my husband has walked out on me. we are near the end of the mortgage and he has agreed to hand the house completely over to me. is a quit claim deed all i need to make this happen, and do i need to involve the mortgage company
If the mortgage is almost paid, then quit claim deed is the bestoption
You can ask your ex to give your a quit claim deed and he will no longer have any ownership on the property
But if name is on the loan he is still laible to pay the loan. If you both of your name is on the loan then both of you are liable
You can ask your ex to give your a quit claim deed and he will no longer have any ownership on the property
But if name is on the loan he is still laible to pay the loan. If you both of your name is on the loan then both of you are liable
Hi cherylbedford,
A quitclaim deed will help you in transferring the property in your name. However, this will not transfer the mortgage in your name. In order to transfer the mortgage, you will have to refinance the loan. However, as you've mentioned that you are near the end of the mortgage, you and your husband can make a lump-sum payment and pay off the mortgage in full and then sign the quitclaim deed. Thus, you would become the sole owner of the property.
Thanks
A quitclaim deed will help you in transferring the property in your name. However, this will not transfer the mortgage in your name. In order to transfer the mortgage, you will have to refinance the loan. However, as you've mentioned that you are near the end of the mortgage, you and your husband can make a lump-sum payment and pay off the mortgage in full and then sign the quitclaim deed. Thus, you would become the sole owner of the property.
Thanks
Thansk for your additional information about lumpsum payment James