Quick Claim Deed
Here's the situation.
My fiance Daniel has a home in los angeles and his mom lives with him. He moved out last year and continues to have the his name on the title. He has be the owner for about 9 years. When he moved out which was about a year ago, he signed a quit claim deed to his mom but is still the only person on the title being that his mom has awful credit. She has been paying the note for about a year but is being very difficult in doing so. Daniel is looking into putting the property up for sale. Does he have a right to go back on the quick claim deed? What does that deed really mean? He has been the sole person on the title . Any information you can provide on this would be very helpful and appreciated.
thank you
Are you really saying that he is the only one on the loan?
Was Mom ever on the title?
Is she agreeable to the sale?
[ Edited by ceinvests on Date 11/02/2004 ]
mom was never on the title, he's been the only person ever on the title
and loan. both the loan and title are under his name.
thanks for your response.
The quit claim indicates that he no longer has an interest in the property. He is still liable for the loan. So he has sold or given way his asset but kept the liability.
Assuming the quit claim is not void, then he is pretty much stuffed unless he gets his mother to agree to a change in the deal.
Was the quit claim recorded? If not you are slightly better off. It still can be so do not provoke interest in getting is recorded.
BTW - She can have terrible credit and still own a place. She just will find it hard to get credit. So she can be on the title.
Did she agree to make payments to Daniel or otherwise obligate herself financially? If so then she needs to make the payments or Daniel can foreclose.
Bottom line.
This sounds messy and it looks like Daniel has himself in a bad situation. A discussion with a good lawyer is required before much else is done. Really.
John
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