Land owner (bank loan on the house)

Sep 8th, 2007, 09:15 PM

If a person quick claims a deed and the person has a bank loan on the house, and the person passes away does the person with the quick claim have to take out a new loan or can the pay the loan of the deceased or does the bank take the house?

Sep 9th, 2007, 01:36 AM

Quote:

Originally Posted by Unregistered

If a person quick claims a deed and the person has a bank loan on the house, and the person passes away does the person with the quick claim have to take out a new loan or can they pay the loan of the deceased or does the bank take the house?

FYI The person that was given the quick claim is not on the house loan.

randalljd · Sep 9th, 2007, 11:45 PM

The quitclaim does not do anything to the loan. The loan is still due and if it is not paid the bank can take the home. So that will have to be resolved or the home sold etc.

Sep 8th, 2007, 09:15 PM	#1
Unregistered Guest Posts: n/a	Land owner (bank loan on the house) If a person quick claims a deed and the person has a bank loan on the house, and the person passes away does the person with the quick claim have to take out a new loan or can the pay the loan of the deceased or does the bank take the house?

Sep 9th, 2007, 11:45 PM	#3
randalljd Top Level Member Join Date: Mar 2007 Posts: 701	re: Land owner (bank loan on the house) The quitclaim does not do anything to the loan. The loan is still due and if it is not paid the bank can take the home. So that will have to be resolved or the home sold etc.

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