Legal Question in Real Estate Law in Florida

The execution and recording of a Quitclaim Deed will not automatically extinguish any mortgages of record. The grantee(s) in the Quitcliam Deed will take title to the property subject to any mortgages of record unless the applicable lenders are paid in full pursuant to the terms of a valid payoff letter issued by such lenders. Also, unless properly satisfied the maker on the note corresponding to any mortgage of record will still be liable for all amounts due and owing under the applicable loan notwithstanding the recording of the Quitclaim Deed and recording same may give the lender the right to accelerate the note. I would suggest that you contact a licensed Florida attorney to further advise you regarding your intentions with respect to the property.