Legal Question in Real Estate Law in Utah

Loans and Quitclaim

What happens to a VA loan if a Quitclaim were to be filed?In the Divorse decree the condo was to be refinanced, but it has not been.Should a quitclaim be filed?How do we get out of the loan so we can use the VA loan?


Asked on 6/02/04, 12:34 am

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Loans and Quitclaim

In a simple sense there are two parts to your home ownership. One is title. A quit claim deed transfers title from one person to another. The second is the VA loan. The VA borrowers (you) can transfer title by quit claim, but may still owe on the mortgage to the VA unless the new owners refinance. The only way to restore your VA benefits is to either sell to another VA eligible person who then transfers the loan to his name OR have the property refinanced.

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Answered on 6/02/04, 12:39 pm


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