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Richard
Richard, Attorney
Category: Estate Law
Satisfied Customers: 55294
Experience:  29 years of experience practicing law, including tax and estate planning.
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I asked you an estate question a few weeks ago & I have.

Customer Question

Hi Richard. I asked you an estate question a few weeks ago & I have a follow up. I asked someone else on Friday, but haven't heard back. I know there is a form at the Tax Assessor's office, but the county clerk isn't allowed to tell me what it is called.
I have checked the Collin county website, but haven't found anything close. I am in Texas, not California, so I believe it may be different here. I asked my SIL's lawyer about this form & he said "You still need to refinance, because the estate is still liable
for the debt. The Deed of Trust is a Deed to the Lender. When you refinance, the Deed of Trust will be released, and a new Deed of Trust will be created." Does the form I just mentioned remove him from the Deed? I am not convinced my SIL's lawyer knows what
he is talking about. Thank you!
Submitted: 1 year ago.
Category: Estate Law
Expert:  Richard replied 1 year ago.

Good morning. What you will need to get him released from the Deed of Trust will be a Release of Lien signed by the lender. This would not come from the tax assessor's office. Rather, the lender would need to provide their form of Release of Lien or you could provide a form for them. If you need a Release of Lien template, let me know and I'll be happy to provide one for you.

Customer: replied 1 year ago.
Hi Richard,
Yes, please send me a template for release of lien. Is that the form that I take to the county clerk, once my lender fills it out? Does this mean that I do not need to refinance, as I suspected?Thank you!
Expert:  Richard replied 1 year ago.

Yes....that's what you would record with the county clerk once signed by the lender. That would mean you would not need to refinance. :) The template is attached.

You're welcome...it's my pleasure!!

Customer: replied 1 year ago.
Hi Richard,
One more question. On the form, it states "WHEREAS, the Note and Deed of Trust have been extinguished and satisfied in full", but we have not paid off the loan. We are wanting to continue the loan. Is that still OK, or am I misunderstanding the statement?
Thank you!
Expert:  Richard replied 1 year ago.

Thanks for following up. This is simply a template. You can simply delete this portion as it's not applicable in your situation. :)

Customer: replied 1 year ago.
Hello Richard,
I want to make sure I am covering my bases. : )
In regards ***** ***** original question that I asked you a few weeks ago, which was about my late FIL cosigning our loan & whether or not we needed to refinance. I have another related question. He is also on the Collin County tax rolls for our house, listed as 1/3 owner (or whatever). So, that 1/3 we don't have any exemption on. I called the county & they said there was a certain form that the probate attorney needs to fill out & have our SIL (the executor of the estate, I believe) sign & notarize. Is this a different form from the tax assessor that we need to fill out as well? Or does the release of lien that you already sent me cover that?
Expert:  Richard replied 1 year ago.

So, is he on your deed as well? If so, the estate needs to sign a quit claim deed transferring his interest.

Customer: replied 1 year ago.
When I asked my SIL's lawyer about a form to remove my FIL from the deed (last week), he said that since my FIL is on the Deed of Trust, "You still need to refinance, because the estate is still liable for the debt. The Deed of Trust is a Deed to the Lender. When you refinance, the Deed of Trust will be released, and a new Deed of Trust will be created." He asked to see the Title Commitment & said (after he saw it) that it has only mine & my husband's names on it, not my FIL's, so that is good, but we still have to refinance. It sounds like he is saying that the only way to remove my FIL from the deed is by refinancing the mortage. Is he right, then?
Expert:  Richard replied 1 year ago.

That's not true; if the lender is willing to release your FIL from the loan, then there is no need to refinance. This release form is different than a release of lien. It's simply a form the bank provides agreeing to release your FIL from liability on the note.

Customer: replied 1 year ago.
I sent my lender the death certificate & they said they would remove him, but there is one thing he will still be on, but I can't remember what it was. I think they said he will still be on the lien, but not on the Title. I will call them and ask.
Where do I obtain the "quit claim deed"?
Thank you!
Expert:  Richard replied 1 year ago.

I will attach a quit claim deed for you. :)