Quit claim /warranty deed Georgia
My brother purchased a home in Ga, my mother lent him mone to purchase the home. My brother has now relocated to another state. My mom and I live in the home and pay the mortgage, up keep, maintenance and related expenses - taxes and HOA fees.
The home is now up for sale and mom wants her money out. The home was purchased in December 2005 and refinanced in April 2007 by my brother and his wife. Mom is NOT on the deed.
We are interested in the possibility of buying the home. I want to discuss with him and wife the possibility of the quit claim. I need would need my salary combined with mom's to afford the mortgage and upkeep. I addition I need to raise my credit score sufficiently, which would take approx 9 months to 1 year from now... my questions are:
If they agree to a warranty or quit claim deed, what else would I need to do, do I still have to qualify with the bank? Would I pick up their mortgage from the same lender? Do I need to finance or refinance the home? What happens if I do not re-finance and jut pay the mortgage? What if they want money out of the house? How would I make sure that my mom's financial interest in the home is protected? And finally... I read something about a rights of survivorship, what is that?