How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask RealEstateAnswer Your Own Question
RealEstateAnswer
RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 23973
Experience:  9+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
9540344
Type Your Real Estate Law Question Here...
RealEstateAnswer is online now
A new question is answered every 9 seconds

I want to quit claim a house to my wife. My name is on the

Customer Question

I want to quit claim a house to my wife. My name is ***** ***** loan, not my wife's, but her name is ***** ***** deed. If I quit claim the house to her, can she just take over the loan or will she have to get a loan of her own?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 1 year ago.

Good afternoon. A quit claim deed will only transfer an ownership interest / title. It will not remove a person from a loan, so by doing this, you will still be on the loan. To get yourself off and her on, you would need to either refinance the loan or see if the lender will allow her to assume it, both solely in her name.

Expert:  RealEstateAnswer replied 1 year ago.

I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!

Related Real Estate Law Questions