California  |  Real Estate Law

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7/27/11, 12:56 am

Legal Question


My Name is on a Grant Deed of a home in which my aunt purchased, I am NOT on the morgage loan. She is now filing for BK CH7 and will probably let the home go (Foreclosure). How can I get my name off the Deed, can I file a Quit Claim Deed back to her name and if so does she also have to sign? I would like to do this before she files BK, please let me know the best way to handle this (i.e. Grand Deed, Quit Claim...) I do not want a foreclosure on my credit.

Thank you -

More Detail:

(1) Is the grant deed bearing your name recorded, so that your name also appears on record title? YES, it has been recorded

(2) Does the grant deed make you the sole owner, or are you a cotenant of some kind? No, my name is second on title (Joint)

(3) Did the making and recording of the grant deed precede or follow the making and recording of the loan that would be foreclosed? When the house was initially purchased/funded escrow had a second deed that added my name to title and recorded.

(4) When the house, or a part interest therein, was deeded to you; Same as #3

(a) did you pay fair market value, or was the house or interest therein mostly or fully a gift? It was a new home 2007, paid market value. It was not a gift.

(b) did the mortgage lender give permission? I am not sure, the broker said that the Lender knew about it and escrow was instructed to record the deed with my name added at the same time the loan funded and recorded.


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