Can I legaly quitclaim deed my home to another person I owe a mortgage on the subject home?
Friday, March 11th, 2011curious asked:
Is it legal to quitclaim deed 50% of your home to someone else without notifying your lender who holds your mortgage first? If so, how does it work with the mortgage then? Does the new owner owe the mortgage if the lender is NOT advised of the quitclaim deed prior to the transfer?
Is it legal to quitclaim deed 50% of your home to someone else without notifying your lender who holds your mortgage first? If so, how does it work with the mortgage then? Does the new owner owe the mortgage if the lender is NOT advised of the quitclaim deed prior to the transfer?
Is doing this even legal?