Grant, bargain, sale deed Nevada
Asked Sep 4, 2010, 10:11 PM
In the state of NV, Washoe county: My wife executed a Grant, Bargain, Sale Deed conveying title from herself to herself, her brother, and her sister-in-law as joint tenants prior to marrying me.
Her brother told her that she needed to sign the document in order to ensure that her aging mother would not lose the home if my wife were to die. The document states - In consideration of $0.00 0 (zero) dollars... and contains no language concerning the mortgage.
The document was executed several months after my wife closed on the purchase of her home. She is the sole borrower on the mortgage.
We recently tried to close a refinance of the existing mortgage and were informed that my wife's brother and sister-in-law needed to sign a Quit Claim Deed in order to close. Long story short, they refused and informed us that they own 1/2 of our home and they do not want us to refinance. The current equity in the home is approximately $100k. They told us we need to pay them $70k to buy them out.
What is our best course of legal action?