Dear Monty: We want to give our son a quitclaim deed to our house, which he rents from us. We still have a mortgage of $117,000 on the home. What is our obligation in this transition? Monty’s Answer: There are several steps that must be taken before you can quitclaim your home to your son. Transferring title in any circumstance is a legal process. Appropriate completion will mean that you and your son will not incur the considerable inconvenience and added cost of a future transfer. Here are some considerations to work through with your son in planning the best path to take to fulfill your obligations: ...
Source: https://www.theepochtimes.com/warranty- ... 58235.html
Warranty Deed Versus Quitclaim Deed
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claireokc
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Warranty Deed Versus Quitclaim Deed
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