Legal Question in Real Estate Law in Florida

quitclaim - multiple transfers-original mortage
A property was quitclaimed to another party (1) by the owner. That party quitclamied the property to another owner (2). The (2) party quitclamied the property back to (1) who in turn quitclaimed it to another party (3). Somewhere along the line the mortage was never taken care of so the original owner still holds the mortgage and party (3) has the deed. The mortgage is not assumable. The original owner does not want to hold the mortgage on the property and does not know how to get out of it. Party (3) is paying the mortgage. Party (3) does not show any interest in obtaining their own mortgage in spite of being asked to do so. There is no verbage in the deed about a mortage. The mortgage holder does not want the liability of holding the mortgage. That was never the intention of the quitclaim deal. How can we go about making the new property holder take out their own mortgage?

Asked on 7/28/03, 12:15 pm

David Slater David P. Slater, Esq.

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Re: quitclaim - multiple transfers-original mortage

Once he stops paying the mortgage the bank will foreclose. This will force the new owner to start paying or lose the property.

Answered on 7/28/03, 2:22 pm

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