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    imgrtful's Avatar
    imgrtful Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 27, 2007, 09:31 AM
    Quit Claim Deed


    To Whom It May Concern:

    I am trying to find out if a Quit Claim Deed will solve my problem and can I legally do it.
    My best friend and I purchased a home with both of our credit, except that my friend did not have any money involved in the transaction, just her credit. She now wants to have this cleared off her credit so that she can build her own credit. Can we do a quit claim deed and transfer the title directly to me/mortgage company? Please advise if you can.

    Thanks,

    Melissa
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Feb 27, 2007, 10:39 AM
    Quote Originally Posted by imgrtful
    Can we do a quit claim deed and transfer the title directly to me/mortgage company? Please advise if you can.
    Hello Melissa:

    No. The bank won't let her off. The two of you (a partnership) are going to need to sell the house to you (an individual), and YOU are going to have get YOUR OWN mortgage.

    excon
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