Property Q&A in 75087>Question Details

Zman5246, Other/Just Looking in 75087

I HOLD A MORTGAGE ON A HOME THE PERSON WANTS TO SELL TO SOMEONE ELSE. DO I NEED A QUIT CLAIM OR ASSUMPTION WARRANTY DEED TO SWITCH NAMES?

Asked by Zman5246, 75087 Thu Feb 2, 2012

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This my friend is a question for your attorney. Contact any title company with an attorney onsite and I'm sure they will be glad to help you (for a small fee of course). This is way too important to take an amateur approach to it. In Texas I understand from the good attorneys that quit claims are almost never to be used.
0 votes Thank Flag Link Thu Feb 2, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Real Estate Agents, in most cases, are not licenced Attorneys and, therefore, can not answer this question as it would be LEGAL advise. Not being attorneys, we cannot give legal adivse under the Texas Statues of Law. To receive the best answer to your question, please contact an attorney specializing in Real Estate. Most title companies have attorneys with this speciality.

If you have any other real estate needs, please let me know. Thank you.
0 votes Thank Flag Link Thu Feb 2, 2012
You need a real estate attorney to help you with this transactoin. A title company attorney could help with the paper work. Best to work with a title company where the property is located.

If you review your mortgage note and deed of trust- there may be a payoff clause in case of a sale. Which means the mortgagor would have to pay the loan in full upon a sale.

Best of luck
0 votes Thank Flag Link Thu Feb 2, 2012
Tommy is correct to many unanswered questions confer with Title company or attorney . In order to transfer title would have go through title company there will be an expense.

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Thu Feb 2, 2012
Tommy is right. You need to involve a real estate attorney. I would advise speaking with a local title company as they can point you in the right direction.

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o.512.669.5599 m.512.633.4157
listings@dongroff.com
0 votes Thank Flag Link Thu Feb 2, 2012
This situation is calling out for assistance from a real estate attorney or a title company. Contact Dan Liane over at Republic Title ((972) 771-4131) or Jamie Jacks at Commerce Title ((972) 771-3337).

I would start with the title company first, let them know your situation, and they can point you in the right direction.
0 votes Thank Flag Link Thu Feb 2, 2012
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