Posted on: 22nd Oct, 2008 07:44 am
What if within that same scenario, but Party B has the mortgage in their name and is willing to leave Party A the property and mortgage. Would signing a quitclaim deed remove Party B from the mortgage and basically turn the house and mortgage over to Party A? If not what would Party B have to do in order to have the house and the mortgage in Party A's name?
this question is in reference to the sceneario titled: "forcing a quitclaim" sorry for the confusion
hi fiscal!
welcome back to forums!
signing a quitclaim deed will only transfer the property but it will not transfer the mortgage. once party signs a quitclaim and gives the property to party a, then they will have to refinance it. only then the mortgage will be transferred in the name of party a.
feel free to ask if you have further queries.
sussane
welcome back to forums!
signing a quitclaim deed will only transfer the property but it will not transfer the mortgage. once party signs a quitclaim and gives the property to party a, then they will have to refinance it. only then the mortgage will be transferred in the name of party a.
feel free to ask if you have further queries.
sussane