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    Tipock's Avatar
    Tipock Posts: 3, Reputation: 1
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    #1

    Oct 14, 2014, 02:24 PM
    Deeds and mortgage debt
    Hi! So as soon as I turned 18 after my mom passed away her trailer (including debt of $45000 ) was quick deeded to me and my 2 siblings. We are not on the mortgage and no longer want this mobile home, which is falling apart and doubtfully worth $45000. How do I get my name released from this? Will it hurt my credit if we just let it go back?
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #2

    Oct 14, 2014, 02:37 PM
    Who is on the mortgage? Was the will probated?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #3

    Oct 14, 2014, 03:25 PM
    First the term is quit claim deed. It means the grantor quits any claim to the property to the grantee. Since you are not on the mortgage, if you walk away from it, the lender will foreclose but will not go after you for any shortfall.
    Tipock's Avatar
    Tipock Posts: 3, Reputation: 1
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    #4

    Oct 14, 2014, 03:52 PM
    The deed says that the beneficiary of my mother (step dad) quitclaim and convey unto me and my 2 siblings joint tenants with rights of survivorship all right, title, and interest subject to the deed of trust from my mother to the mortgage company. The mortgage company still comes to my mothers name and will not give me any information through them about the mortgage. So I'm not completely sure what they have as information all I know is they will not release it to me, the only thing I know is what's due every month in the statement

    Would my best route be to go to a lawyer and have them look it all over to tell me personally what I can do? Since it's deeded to all 3 of us if they took it back would it be against me for the entire loan amount or just 1/3 of the amount?
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
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    #5

    Oct 14, 2014, 04:09 PM
    A mortgage obligation is separate from who is on a deed.
    You have NO obligation to the mortgage company.
    You don't need to pay a lawyer.
    Sign the deed back over to your step dad and file it at the court house.
    What about the land it is on though?
    Tipock's Avatar
    Tipock Posts: 3, Reputation: 1
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    #6

    Oct 14, 2014, 04:26 PM
    The land is deeded with the trailer and that would be nice but my step dad doesn't want it either :/
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #7

    Oct 15, 2014, 04:29 AM
    As I said, since you are not a party to the mortgage, They shouldn't be able to come after you personally for any balance. They will foreclose both the land and any structures on it. They will sell it for what they can (probably at auction), but, if the sale doesn't cover the balance they can't come after you.

    Have you tried to sell it? Since you also own the land, that may have some value.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #8

    Oct 15, 2014, 06:37 AM
    A deed is one thing, and a mortgage is another.

    The deed can not make you obligated to a mortgage.

    I may have questions, as to who signed and did the deed to you?
    Since it needed to go though probate court,

    But, you can just walk away, and since you are not on the loan, there is nothing they can do
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