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Yes. If the bank has a mortgage on the property there is a due on tranfer clause in the mortgage that the property owner signed That means the bank must be notified of any transfer of ownership and it can demand payment in full of the mortgage if any transfer is made. A quitclaim deed would be a transfer of ownership.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoYes. If the bank has a mortgage on the property there is a due on tranfer clause in the mortgage that the property owner signed That means the bank must be notified of any transfer of ownership and it can demand payment in full of the mortgage if any transfer is made. A quitclaim deed would be a transfer of ownership.
Yes. If the bank has a mortgage on the property there is a due on tranfer clause in the mortgage that the property owner signed That means the bank must be notified of any transfer of ownership and it can demand payment in full of the mortgage if any transfer is made. A quitclaim deed would be a transfer of ownership.
Yes. If the bank has a mortgage on the property there is a due on tranfer clause in the mortgage that the property owner signed That means the bank must be notified of any transfer of ownership and it can demand payment in full of the mortgage if any transfer is made. A quitclaim deed would be a transfer of ownership.
Yes. If the bank has a mortgage on the property there is a due on tranfer clause in the mortgage that the property owner signed That means the bank must be notified of any transfer of ownership and it can demand payment in full of the mortgage if any transfer is made. A quitclaim deed would be a transfer of ownership.
Wiki User
∙ 9y agoYes, they need to be notified. If the mortgage holder is giving up their rights to the property, the loan is likely to be due immediately.
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What kind of deed do I need to add my husband's name to the property?
quit claim deed
How can i void a quit claim deed in Mississippi?
As long as the deed is valid, you cannot void a quitclaim deed. You would have transferred your interest to the grantee and you no longer own the property. You would need a deed from the grantee to restore your ownership.
How do you go about undoing a quit claim deed that was forged and recorded at courthouse by a person committing fraud and how do I reclaim my property that I still have a contract payments and deed?
You would need to hire an attorney and go to court and provide proof of your claim. Then the quit claim deed would have to be made null and void.
Do you need an attorney to remove spouse's name from house deed?
You need the spouse to sign a quit claim deed, which can be prepared by a title company or anyone that knows how to fill out the form.
Can you quit claim a deed if the survivor is still alive?
You need to reword your question. Use names as examples.
Is property transferred by quit claim deed in Tennessee considered a gift?
Not necessarily. You need to examine the deed to see if there was any consideration mentioned. A quitclaim deed can be used as a gift deed but every quitclaim deed is not a gift deed.Not necessarily. You need to examine the deed to see if there was any consideration mentioned. A quitclaim deed can be used as a gift deed but every quitclaim deed is not a gift deed.Not necessarily. You need to examine the deed to see if there was any consideration mentioned. A quitclaim deed can be used as a gift deed but every quitclaim deed is not a gift deed.Not necessarily. You need to examine the deed to see if there was any consideration mentioned. A quitclaim deed can be used as a gift deed but every quitclaim deed is not a gift deed.
What happens if your spouse dies you're not on the mortgage but have the deed in your name?
Generally that means the mortgage was given to the bank before your name went on the deed. In that case you need to pay the mortgage or the bank will take the property by foreclosure.
Why do a quick claim deed if you already inherited the proprty after the owner dies?
You are not required to record a deed. If the estate was properly probated the probate process passed legal title to you and probate records are part of the public record of real property ownership. Some bankers who do not understand title theory will insist you record a deed before approving a new mortgage. Some people who inherit property want a deed in their own name. However, if a bank is not involved whether ot not to have a deed drafted and recorded is up to you. You do not need a deed. If a deed is required it should be drafted by an attorney.
Does the grant deed already provide what a quitclaim deed would your mortgage company is asking for a quitclaim deed but you already have a grant deed Is it possible to get both?
The grant deed and quick claim deed are very different. It is possible to get both for the mortgage company. You will need to visit a title company for more details on your specific situation.
How do you have your ex partner removed from your mortgage?
You would need to negotiate with the bank. It may require that you refinance in your own name. If your ex-partner is also on the deed then they will need to convey their interest in the property to you by a quitclaim deed.
How is a re-conveyance obtained for a deed of trust with Security Pacific national bank was trustee?
Bank of America is the successor in interest to Security Pacific National Bank which it acquired in 1992. If the property was conveyed to Security Pacific as trustee you would need a deed from BOA. You should obtain a copy of the deed of trust and review the document with a representative at BOA.
Does a quit claim need notarization The Grantor died after signing the deed?
Generally, yes. You need to check the laws in your jurisdiction because laws vary.
