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Hilcat1, Both Buyer and Seller in Dallas, TX

2 names on deed. only 1 on mortgage. the one NOTon mortgage wants her name off deed. call title co and fill out a form? is it that simple?

Asked by Hilcat1, Dallas, TX Tue Oct 19, 2010

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T.E. Sumner’s answer
Don has the best answer:
If the parties are unrelated (not husband and wife), then one can deed her interest in the property to the other with a warranty deed. The quit-claim deed is practically useless, since a later sale will often involve contacting that party and having them sign a warranty deed anyway.

If the parties are married, then the process is not so simple because of the spouse always has homestead rights that must be extinguished and must have the debt released. This may seem somewhat odd, but because Texas is a community property state, automatically the spouse owns half of properties purchased (whether aware or not) and owes half the debt. "Half" is merely a device to demonstrate that the spouses have an undivided interest in the property besides being severally liable for the mortgage.

A wife who resides in a home and then the home is sold has the right to contest the sale if it is her homestead; the same is true for the husband if the roles are reversed.

The bottom line is that you should consult a real estate attorney to understand more fully and make an informed decision.
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0 votes Thank Flag Link Thu Oct 21, 2010
If not a spouse you can deed her off. Title company may do it with their attorneys or you may need to go directly to a real estate attorney yourself if this is not part of a refinance transaction.
0 votes Thank Flag Link Tue Oct 19, 2010
Hilcat1,

You'd think your question is a simple one but as you can see, it's not as simple as it might seem. There are too many variables that might change the answers to your questions (I saw the other posting). Quit Claim deeds are legal in Texas but every title company I know of, doesn't like them for the sale of the property (at a later date) and will require the other party's signature at the closing.

To accomplish your goal, a title company is your best place to start. They have real estate attorneys in-house or on contract and most will assist you. Alternatively, a real estate attorney is another option.

If you're still having problems finding someone to help you, email or call me and I'll put you in touch with a great title company. There is a fee for their services.

Best Regards,

Rich
RE/MAX Urban
rich@richpatterson.net
0 votes Thank Flag Link Tue Oct 19, 2010
If only one name is on the mortgage 2 on the deed, it may require your lender approval.

You need contact title company after review will determine how remove the person from the title. Does the person who wants to be removed have "ownership in the property" are there any agreements signed, or liens on the property .

Title company does charge for their services in order complete the process.

No professional can render an opinion for paperwork and facts are not furnished . Title company are experts who can render an opinion provide you course of action to take.

Both parties will need to go into title company in order sign all documents. Proof of ID will be required in order sign all required documents transfer the title to one person.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Tue Oct 19, 2010
Attorney for the one who "wants" their name off of the title. They need professional advice. Remember there is still the issue of Homestead rights, You do live in Texas.
0 votes Thank Flag Link Tue Oct 19, 2010
That is correct. Quit Claim Deed will take them off title/warranty deed
0 votes Thank Flag Link Tue Oct 19, 2010
Well I know you've gotten a lot of answers on this one and the perfect answer here is to consult a real estate attorney. However, from personal experience, I filled out a quit claim deed for the title company, they filed the deed and I paid them for their services. Title companies have a real estate attorney that they work with, so I'd just call a title company and ask them. Good luck!!


Jackie
0 votes Thank Flag Link Tue Oct 19, 2010
Go back to the title company that you went to - to purchase the property to see if they can change it or correct the error?? They may just file a correction deed... My question is why does the person on the deed want his/her name removed?
0 votes Thank Flag Link Tue Oct 19, 2010
I would definitely discuss with an attorney in your state. But, quit claim deed is something we use in Wisconsin.

Linda
Web Reference: http://www.lindacefalu.com
0 votes Thank Flag Link Tue Oct 19, 2010
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