2007-12-17 10:28:01 · 4 answers · asked by nuna c 1 in Business & Finance ➔ Renting & Real Estate
A quit claim deed transfers titles without any warranties. It does nothing for the loan or mortgage/deed of trust.
2007-12-17 10:36:28 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You're a bit confused.
A Quit Claim Deed generally transfers title to REAL PROPERTY (Real Estate) only. For a loan to be transferred, it is assigned or assumed, and generally requires permission of lender. A Quit Claim Deed transfers all the title that the seller has, without making any promises or warranties about whether it is "good" title.
2007-12-17 18:38:38 · answer #2 · answered by chatsplas 7 · 1⤊ 1⤋
No, a quit claim deed transfers title without warranties, meaning without guaranteeing clear title.
The loan is an entirely separate matter and the quit claim deed will have no effect on the mortgage.
2007-12-17 18:51:46 · answer #3 · answered by godged 7 · 1⤊ 1⤋
It relinquishes any interest in the property title. It does nothing toward getting someone "off" of a mortgage note.
2007-12-17 19:03:13 · answer #4 · answered by npk 7 · 0⤊ 0⤋