i know this is stupid, but i am tooo freaking nice and cannot say no. my friend just called me (best friend) and she wanted to know if i could do a quit claim. didnt really tell me everything but that she wanted to own something and i guess she's trying to get money out of her house but she doesnt have enough credit to do so or her credit score isnt good?? i dont know what is wrong with this girl. she says the house is in her name- if so why wouldnt she have credit???? anyways, i gave her my info..... what exactly is a quit claim and would it affect me in any way????
im scared now and believe me, i know i shouldnt have gave her my info.
2006-10-19 07:05:20 · 7 answers · asked by tooxswt 2 in Business & Finance ➔ Renting & Real Estate
i know... it makes no sense for her to ask me for my info when i dont even own her property or plan to own her property. she says her agent said that if she could get someone who has good credit then they could do a quitclaim so she can borrow money. i have no idea!
2006-10-19 07:15:15 · update #1
Well, a quit claim is a type of deed that conveys any interest a real property owner may have in that property. Why she would ask for your information makes no sense because it won't do any good. The property she owns must be conveyed by her, unless she is conveying it to you. Ask more questions of her.
2006-10-19 07:09:39 · answer #1 · answered by brokenheartsyndrome 4 · 1⤊ 0⤋
I think that what you're talking about is a QUICK claim deed, and not a QUIT claim. It seems that your friend is turning over the deed of her house for money. Perhaps she is hoping that you will cosign a loan, or she is using you as a personal reference. I hope that you didn't provide information about your own deed to your own home.
2006-10-19 07:18:43 · answer #2 · answered by Deirdre H 7 · 0⤊ 0⤋
A quit claim deed is a easy way to sign over your ownership to something. Usually your home.
Andy above me asks the correct question as to what are you giving up. It should be listed on the quit claim form and notarized.
2006-10-19 07:15:14 · answer #3 · answered by Snaglefritz 7 · 0⤊ 0⤋
If your name isn't on the title to the property, it sounds to me like she's trying to put your name on the title and have your name on the loan she's trying to obtain. DON'T DO IT. Call her back and ask her exactly what she is planning. Tell her you will absolutely not sign any loan papers and do not want your name on the title to the property. You do not want to be responsible for this woman's debts and if you sign anything for her you would be.
Talk to her and nail her down about what she's trying to do.
Good Luck
2006-10-19 08:02:48 · answer #4 · answered by Kathleen M 4 · 0⤊ 0⤋
A quit claim means that you have a claim on her for something and you are agreeing to 'let it disappear' or quit your claim...
Are you sure your name isn't on her house as a co owner or maybe you loaned her some money once and are on her deed as a creditor???
2006-10-19 07:14:02 · answer #5 · answered by Andy FF1,2,CrTr,4,5,6,7,8,9,10 5 · 0⤊ 0⤋
Be a MAN...and ask questions. This sounds like a scam...don't do anything that might jeopardize your credit......which take a lifetime to build ....and one bad deal to ruin it.
2006-10-19 10:19:57 · answer #6 · answered by mikey 2 · 0⤊ 0⤋
Have every thing you do not understand go through your attorney.If you do not understand something your attorney will provide advice.
Do not I repeat Do Not go through with anything you do not thoroughly understand or that you do not want to do.
2006-10-19 08:39:10 · answer #7 · answered by realestate_leader 3 · 0⤊ 0⤋