Quitclaim Deeds/ Existing Mortgage

Friends, what happens (or CAN happen) to the existing mortgage when a quitclaim deed is granted? Will the lender automatically call for the loan to be payed off? This would be in Florida. Thanks in advance>

Comments(3)

  • ceinvests27th February, 2007

    Is there a difference between getting a property by quit claim deed and other types of deed transfer?

    If it is in the family, is the quit claim a better way to go?

  • ceinvests27th February, 2007

    Thanks.

    My goal was to save on transfer tax costs, closing costs when the house was to be sold soon.

  • BercoGroup5th March, 2007

    In Florida it is very similar to what tbird56 said. A QCD has limited application and is mostly used in divorce cases and quiet title actions.

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