Legal Question in Real Estate Law in California

Re: refinance and quit claim

What is there to quitclaim? Quitclaims are a form of deed. Deeds, including quitclaim deeds, are used to transfer ownership. If you are a co-signer and only a co-signer, you aren't an owner, and you have nothing to transfer, nothing to deed away. Sure, you could quitclaim, but it would accomplish nothing.

When (and if) your uncle refinances in three to six months, that will wpie out your obligations as a co-signer on the then paid-off loan.

Co-signing has nothing to do with deeds, nothing to do with ownership! By co-signing, you become a guarantor of the loan, not an owner.

You may become a co-owner as part of the overall transaction, of course, but not because you co-signed the loan! If you become a co-owner, it will be because the seller, or your uncle, granted you an interest by deed.

Re: refinance and quit claim

Same answer as to your last post: Sure, you can quitclaim away your title interest any time you like, but that doesn't get you off of the loan obligation. If it doesn't get paid, you get sued. Mr. Whipple's answer assumes you aren't on title, mine assumes you are.

Anyone who can't qualify on his own to finance a house now, is greatly misguided in thinking they can refinance later. You're likely to be on the hook for that loan repayment for a long time.