Quit Claim Deed
I got a quit claim deed signed by one who was behind on house payments. The deed states to pay 125K - a little bit more than the balance of mortgage. The house is worth 170K. I want to record the title under my name but the owner does not return my calls. I need to get my appraiser in there to get a loan to payoff the agreed 125K. What are my options? Thanks in advance.
If you have a signed and notarized QCD then you can record anytime you wish, and you need no further consent from anybody.
Your options are completely open...either record and move forward and treat the RE as your own, subject to the bank loan, or scrap the QCD and walk.
Thanks John. A lawyer told me that it is consumer fraud to record the QC title without paying off the loan and giving the balance to the buyer because it is mentioned in the QC that the consideration is 125K. Does his argument hold any merit? Thanks.