Posted on: 07th Oct, 2010 08:40 am
i purchased a house with my mom. now we found out she has cancer. the loan conditions are that we cant refinance for 6 years. i qualified for the loan on my own so the money isnt an issue. can we remove her from the title/deed now while she is alive without refinancing to avoid hassle later?
hi kjm,
you can ask your mother to sign a quit claim deed now in order to remove her name from the property deed. however, the lender may call the loan due if there is a change in property ownership. it will be better if you can let it remain as it is. after her death, you can file an affidavit of heirship and get the property transferred in your name and then refinance the loan.
thanks
you can ask your mother to sign a quit claim deed now in order to remove her name from the property deed. however, the lender may call the loan due if there is a change in property ownership. it will be better if you can let it remain as it is. after her death, you can file an affidavit of heirship and get the property transferred in your name and then refinance the loan.
thanks