Legal Question in Real Estate Law in Florida
My brother passed away and he owned a home. His name is on the mortgage & deed. His wife is only on the deed. She's moved on and wants nothing to do with the house. Is she able to do a quitclaim deed and give ownership to my parents? What happens then? And what happens to the mortgage loan which is under my deceased brother's name?
1 Answer from Attorneys
Assuming that his wife is a joint owner, she became the sole owner and may sell or convey the property. If she never signed anything making her liable on the mortgage, then when the bank foreclosures (assuming no one pays on the mortgage) they will join her in on the lawsuit to clear title. But they shouldn't hold her liable for the debt.
If she deeds the property away she can, but doc. stamps will be due on the deed. Plus it will violate the mortgage. So the bank could foreclosure if the mortgage isn't paid off.
Given the times, I don't think banks are monitoring the situation if the mortgage stays current. But that is not a guarantee, and is still a violation.
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