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Quick Claim Deed

  • Thread starter Thread starter fannie28
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fannie28

Guest
What is the name of your state? OH

If a property was quick claimed to me and the property has a mortgage balance on it, would I be the new owner of the property. Also will I be able to resell or refinance the property if the mortgage is not in my name but the property has been quick claimed to me.

Thank you for your time :)
 


nextwife

Senior Member
What is the name of your state? OH

fannie28 said:
If a property was quick claimed to me and the property has a mortgage balance on it, would I be the new owner of the property.

Dunno. What's a "quick claim" deed?

If the party the Quit-Claimed the property to you was both in good title and the sole owner, then yes, you would now be the owner.

A quit claim only conveys whatever interest the grantor had. If someone else had a partial interest, they still have that interest. If the QC was from a person NOT in title, you have no ownership.

fannie28 said:
Also will I be able to resell or refinance the property if the mortgage is not in my name but the property has been quick claimed to me.

If there is a due on transfer clause in the mortage, you'd better plan to refinance the underlying mortgage, because the lender has the right to call the loan due upon transfer.

Yes, you may sell the property. The mortage would be paid off out of proceeds.
 
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