Quit Claim Deed In Calif
my bro & sis are on the deed of my moms house...however my mom wants the house back in her name so she can refinance or sell.....once the quick deed is filed, does she then have the right to put the house up for sale or refi....what exactly does this quit claim deed do...i mean if my bro/sis were to default on the loan, even though the quick deed was filed doesnt the finance company still have the right to put the house on foreclosure....please help me to understand this
the q/c only gives up any rights to the prop. ownership for your b/s the loan is still in force and the home can be f/c upon. it does not "forgive" any debt......kenmax
p.s. but after the q/c your mom can sell she will be the owner of the prop. and has all prop. rights to the prop. to include the right to sell or refi.....kenmax[ Edited by kenmax on Date 08/03/2004 ]
Knowing my own Mom & how easily she could be swayed by any fast talking hustler, I'd recommend you go very slowly in deeding your interest to her.
Once you deed it to her, it's hers & you have no rights in it anymore.
[addsig]