Posted on: 15th Apr, 2011 07:24 am
my tenant, no family relationship what so ever, is willing to take over my mortgage deed. my mortgage is current with payments, never had a lien, and my husband has no quarrels about transferring the deed. i hear a warranty deed is the better choice for both the grantor and the grantee. i would not like this transaction to come back and haunt us. which is better? warranty deed or quit claim deed?
Hi rouzier,
Welcome to Mortgagefit,
I think you should go for general warranty deed.You can go through this link for further details.
http://www.mortgagefit.com/search/quitclaim-deed.html#warranty
Feel free to ask any further query if you have....
DIPA
Welcome to Mortgagefit,
I think you should go for general warranty deed.You can go through this link for further details.
http://www.mortgagefit.com/search/quitclaim-deed.html#warranty
Feel free to ask any further query if you have....
DIPA
Thank u for the info.
Hi srouzier!
Welcome to forums!
As there is a mortgage on the property, you will have to use a quitclaim deed or a grant deed to transfer the property to the tenant. Also, you should make sure that the tenant refinances the mortgage in his name so that you're released of the mortgage liabilities.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As there is a mortgage on the property, you will have to use a quitclaim deed or a grant deed to transfer the property to the tenant. Also, you should make sure that the tenant refinances the mortgage in his name so that you're released of the mortgage liabilities.
Feel free to ask if you've further queries.
Sussane