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In Florida how can someone be added to a property deed does the lender need to be notified and what happens to the mortgage if one of the title holder's die?

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2006-11-30 03:52:53

You Will Have To Refinance To Add Her To The Mortage And Deed.

The lien does not have to be refinanced in order to add someone to

the title. A "Quit-Claim" deed will need to be filed to add (or

subtract) someone from title. Any local title/settlement agency

should be able to assist you with this for a fee. The current lien

holder will not know about the addition of any persons to title

and, technically, in the event of death the lien can be continued

to be repaid (by your mother) without refiancing. * Please be

advised Quitclaim deeds do not assure a warranty or covenant of

ownership to the property. If the involved parties wish to assure

that the property will be protected from probate and other action

(such as creditors) upon the death of one of the owners, a

warranty/general deed is the best option, preferably as Joint

Tenants With Rights Of Surviviorship. It is usually not necessary

to inform the lender as the property is secured collateral for the

debt owed and the remaining deed holder's are responsible for the

debt or reaffirmation of the lending contract to prevent

foreclosure on the property.


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