Posted on: 25th Aug, 2007 04:24 pm
i would be financing the house due to the fact that i cannot afford to buy the house outright. my daughter is telling me that i should sign a quit claim deed within 24 hours after buying the house. i would like to know what purpose this would serve and would the finance company have any objections to this. we live in washington state.
Hi Ladygriz,
Welcome to the forum.
When you cannot finance the house, your daughter and son-in-law would purchase the house. I think your daughter has asked you to sign the quitclaim deed only to add you as co-owner to the property title along with them.
But I am not sure if the finance company would object to this. In that case, you need to talk to them before signing the deed. They will be able to give you the right information.
Welcome to the forum.
When you cannot finance the house, your daughter and son-in-law would purchase the house. I think your daughter has asked you to sign the quitclaim deed only to add you as co-owner to the property title along with them.
But I am not sure if the finance company would object to this. In that case, you need to talk to them before signing the deed. They will be able to give you the right information.
"My Daughter is telling me that I should sign a quit claim deed within 24 hours after buying the house."
Why your daughter wants you to sign the quit claim deed after the house is purchased? If you are on the loan then finance company can object to your removal from the title.
"I would like to know What purpose this would serve "
By signing the deed you will be removed from the title of the house. It means who will no longer have rights over the house after you sign the quit claim deed for transfer of your interest in the property.
Miller
Why your daughter wants you to sign the quit claim deed after the house is purchased? If you are on the loan then finance company can object to your removal from the title.
"I would like to know What purpose this would serve "
By signing the deed you will be removed from the title of the house. It means who will no longer have rights over the house after you sign the quit claim deed for transfer of your interest in the property.
Miller
"I would like to know What purpose this would serve"
If you are not aware of what purpose a quit claim deed is used for then you can go through this page to know more about it: http://www.mortgagefit.com/quitclaim-deed.html
If you are not aware of what purpose a quit claim deed is used for then you can go through this page to know more about it: http://www.mortgagefit.com/quitclaim-deed.html