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If your condo is paid off can you transfer deed to your daughter?
Wiki User
∙ 14y ago
Probably, yes.
Unless your condominium has restrictions and reservations that would preclude your daughter from being a qualified owner, you can transfer the deed to her name.
However, for example, if your condominium is in an over-55 community, and a qualification is that the owner be older than 55 years in age, and your daughter is not yet 55 years old, then she may be precluded from holding title to the condominium.
You can find the answer you want -- as to the associations restrictions and reservations -- in your governing documents.
Wiki User
∙ 14y ago
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How are homeowner claims paid to person who had deed but not policy?
Homeowner insurance claims are paid to the policy holder, in a condo and the damages are being reimbursed by the association the deed and title holder gets the refund
How do you get the deed to a house if the owner has died and the mortgage is paid?
The deed belongs to the estate and the estate can transfer the property in accordance with the will or the laws of intestacy.
Can 1 person sell a home if 2 people are on mortgage but 1 signed over the deed?
The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.
What happens when a lien is placed on a condo?
A lien on the deed -- unit's title -- clouds it, meaning that monies to satisfy the lien must be paid before clear title can be transferred.
Can a seller transfer a deed to the buyer if a federal tax lien is against the property and can the property be settled?
NO. You cannot transfer the ownership of the property UNTIL the lien is paid off, in full.
If there is a judgment lien on a property can any one of the co-owners be removed from the deed?
No, there can be no title transfer, sale or refinancing until the lien is paid.
Father paid 70 percent daughter paid 15 percent and boyfriend paid 15 percent for a co-owned property. The daughter died. Who gets the property?
It doesn't matter who paid what. The tenancy set forth in the deed controls what happens if a co-owner dies. The three owners will each own a one-third interest unless some other proportions are specifically mentioned in the deed. You need to provide more details.
Does a quitclaim affect the mortgage?
Yes. Most mortgages have a due on transfer clause. It is meant to protect the lender. It provides that if there is any transfer of ownership, such as by a quitclaim deed, the lender can demand that the full balance of the mortgage be paid immediately. If the transfer goes unnoticed for a time, the property transfers subject to the mortgage and full payment will be demanded when the lender is notified. If the mortgage isn't paid the lender will take possession of the property by foreclosure.Yes. Most mortgages have a due on transfer clause. It is meant to protect the lender. It provides that if there is any transfer of ownership, such as by a quitclaim deed, the lender can demand that the full balance of the mortgage be paid immediately. If the transfer goes unnoticed for a time, the property transfers subject to the mortgage and full payment will be demanded when the lender is notified. If the mortgage isn't paid the lender will take possession of the property by foreclosure.Yes. Most mortgages have a due on transfer clause. It is meant to protect the lender. It provides that if there is any transfer of ownership, such as by a quitclaim deed, the lender can demand that the full balance of the mortgage be paid immediately. If the transfer goes unnoticed for a time, the property transfers subject to the mortgage and full payment will be demanded when the lender is notified. If the mortgage isn't paid the lender will take possession of the property by foreclosure.Yes. Most mortgages have a due on transfer clause. It is meant to protect the lender. It provides that if there is any transfer of ownership, such as by a quitclaim deed, the lender can demand that the full balance of the mortgage be paid immediately. If the transfer goes unnoticed for a time, the property transfers subject to the mortgage and full payment will be demanded when the lender is notified. If the mortgage isn't paid the lender will take possession of the property by foreclosure.
If you buy a house why would the sellers name still be on the title?
It would mean you didn't actually buy the house. The purchase of a house usually goes with the land beneath it (other than a condo), and this would be described in the deed (the title) that you received at "closing" when you paid for the house. Therefore, if you have the deed naming you as the grantor, then the seller's name is no longer on the title. If you didn't get a deed, then you don't own the house.
Courtney lives in a condominium. She has lived there for 3 years and paid 700.00 a month in rent. Now the condo is up for sale.How much money has Courtney paid toward her condo?
25200 A+
I own a condo with my boyfriend. I am moving out of the state and my boyfriend will remain in the condo. Can I file a quit claim deed to get my name off the mortgage?
No. The mortgage will need to be paid off and refinanced to free you from the obligation. Do not convey your interest to your boyfriend until he has been approved for a refinancing and make certain your deed is part of that same transaction. You will want indisputable proof the mortgage will be paid off and a new mortgage recorded in your boyfriend's name only. Only then should you sign a deed. The matter should be handled by an attorney who can look after your legal rights.A mortgage is an iron-clad contract you signed with the bank promising to pay a considerable sum of money it loaned to you. There is no way you can "take your name off the mortgage". If you sign a deed now you will be responsible for paying a mortgage on land you do not own.
Is your deed given to you at the closing?
Normally no. You don't get the deed until the mortgage is paid off.
