Legal Question in Real Estate Law in Texas

quit claim

I want to help my mom by taking over her property by using a quit claim so i can take over her property and payments to allow her to live there. Would this quit claim give me the right to refinance and take advantage of a better interest rate and allow me to take over payments at a lower rate so she can stay in her home.


Asked on 4/26/07, 1:11 am

1 Answer from Attorneys

Re: quit claim

If you just want to buy the property from her, that would be the best way to go. Quitclaims are disfavored by title companies, and most mortgages have a "due on sale" clause which will make the entire loan balance due upon the transfer of an ownership interest. You should contact a mortgage company, tell them that you want to buy the house from her, and then have them run it through proper channels (title company, etc.) and make sure it is done correctly.

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Answered on 4/26/07, 12:04 pm


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