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    antiquealley3's Avatar
    antiquealley3 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 12, 2012, 08:03 PM
    Give back property
    I have a property the owner is carrying the paper and I can no longer pay the payment. The owner is willing to take back the property but I want to see what I need to protect myself besides a quit claim deed, to make sure they release me from the financial obligation as well. Thank you.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Sep 13, 2012, 02:55 AM
    First its not a good idea to piggyback your question on another thread. This can lead to confusion. So I've moved your question to its own thread.

    Get them to sign a release. Simply stated:

    In return for deeding the property at <insert address> back to <insert their name>, <insert your name> will be released of all financial obligations from the note signed <insert date>.

    I would get an attorney to draw it up to make sure of the language, but it should be that simple.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Sep 13, 2012, 02:59 AM
    Scott is correct, something to show you don't still owe them. Since this involves large amounts of money I would have an attorney do it.
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