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Mar 21st, 2008, 12:34 PM
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#1 |
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Junior Member
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Apr 11th, 2008 08:40 PM Join Date: Mar 2008
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Quitclaim in Nevada
My mother owns a condo in Nevada and has been diagnosed with a terminal illness. She is unable to work and is on social security and is unable to make her mortgage payments. She would like to transfer ownership of the condo to me but I'm unsure of how this can be done - do we do a quitclaim and if so, what happens with her current mortgage. Do I just continue making the payments? What will happen upon her death as far as the mortgage?
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Mar 23rd, 2008, 09:21 AM
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#2 |
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Dec 27th, 2008 08:09 PM Join Date: Feb 2007
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Re: Quitclaim in Nevada
The lender normally has to approve any transfer of the loan to a new party.
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Mar 23rd, 2008, 09:22 AM
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#3 |
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Re: Quitclaim in Nevada
...you could just make the payments of course...
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Mar 23rd, 2008, 12:33 PM
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#4 |
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Junior Member
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Apr 11th, 2008 08:40 PM Join Date: Mar 2008
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Re: Quitclaim in Nevada
Yes I could make the payments (currently am doing so) but if she were to pass away, could I still continue to do this? or would I need to get the mortgage in my name?
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