my mother and I co-own a house. Can we use the quit claim to have her name removed from the title and mortgage?
by Mortgage Rates on Tuesday, October 26th, 2010 | 4 Comments
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No. She cannot have her name removed from the mortgage without the loan being refinanced. And I do not think that she can remove her name from the title of the house as the lender might not allow it.
She can quit claim on the title…but she still owes on the mortgage until it’s paid off or you refinance it without her name.
are you are going to buy her out and have her sign a quit claim deed
or is she just willing to quit the property and leave it all to you
if she is willing to leave it all to you– you will also control the mortgage on your own but you can only do that if you refinance the property in your name only to change mortgage information as a sole proprietorship
She can sign a quit claim deed and it must be presented to county records before a judge and recorded– once it is recorded –you acquire full responsibility and control of the property, taxes, mortgage, maintenance, Insurance, liens, etc…
No
If you want your mother off the mortgage, you have to refinance the house in your name only.