2007-07-23 08:10:08 · 4 answers · asked by smartsmartsmartsmartsmartsmartyo 1 in Politics & Government ➔ Law & Ethics
Yes you can. It won't release any obligation you have on a mortgage.
2007-07-23 08:12:35 · answer #1 · answered by wizjp 7 · 0⤊ 0⤋
As with all legal questions, the laws vary by jurisdiction.
Generally, many states do not allow a unilateral transfer of one part of a joint tenancy -- the rights of survivorship remain, even though the person could transfer a life estate in their portion.
Some states/countries have changed this, and allow a joint tenancy to be broken by one party -- which would result in a tenancy in common (not another joint tenancy) between the other original owners and the recipients of the transfer.
2007-07-23 08:22:55 · answer #2 · answered by coragryph 7 · 1⤊ 1⤋
In Pennsylvania, yes. Note that if you owe money on a mortgage, the mortgage company or bank holding the mortgage does not have to release you from the mortgage obligation.
One final matter, a quitclaim deed only conveys that interest which you have in the property.
2007-07-23 10:48:53 · answer #3 · answered by Mark 7 · 0⤊ 0⤋
Do you mean that you give up part?
If so, this is not right. you can give up your part by refinancing wihout name on the mortgage.
If not, the property can not be sold without your consent and knowledge.
2007-07-23 08:17:47 · answer #4 · answered by cboursiq 2 · 0⤊ 1⤋