Legal Question in Real Estate Law in Maryland
Our home in Maryland is deeded in just my husband's name. The home was built by my father-in-law and quit claim deeded to my husband. We took out a loan against the house and it now has a deed of trust on it. We want to put the deed in both our names (husband & wife). Can this be done by way of a quit claim deed or do we have to do it some other way?
1 Answer from Attorneys
An attorney can draw up a deed to add a spouse to the title relatively easily, but note that you must first get the lender's approval. Technically any transfer without the lender's approval can trigger the due-on-sale clause of your mortgage which means the whole mortgage can be called due.
A quit claim deed may be fine for transfers between family members but it is not the same as a warranty deed. Basically a quit claim deed does not promise the seller/grantor had ownership in the property, but gives whatever interest that person may have had to the buyer/grantee.
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