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Yes. Just remember that the person to whom you transfer the property will be the new legal owner and will be completely responsible for paying the mortgage. It is an extremely risky move for both of you. The new owner may not ever give it back to you. You may stop paying the mortgage and the new owner will have to pay. It is a sure recipe for trouble in most cases.

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Q: Can you quit claim a house to a family member to get financing?
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