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quit deed house in memphis,tennessee

Posted on: 05th Feb, 2010 09:00 am
thank you so very much for your reply. i have one more question. if my daughters quit claim deed the house to me, would that debt becomes mine and they would be released from their responsibility to the debt that is owed and the debt would become mine? they want out of the loan and i want to keep the house and assume responsibilty for the debt.
Welcome peuell,

Simply quit claiming a property will not make you responsible for the loan. Once your daughter quit claims the property, you need to refinance the loan in your name. This will make you liable for the mortgage.
Posted on: 07th Feb, 2010 09:18 pm
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