Quit Claim And Existing Mortgage
My Dad bought the house I live in, and I pay him the mortgage $ every month, but everything is in his name. Is there a way for him to Quit Claim this house over to me? And if so, what about the mortgage..how is that handled? :-?
A Quit-claim Deed is a deed that operates to release any interest in a property that a person may have, without a representation that he or she actually has a right in that property.
The current mortgage will stay in place in your fathers name, do keep in mind that the lender has the right to call the note due and payable in full if the note is not paid off and their has been a change in ownership.
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