Legal Question in Real Estate Law in Virginia

I need my mother-in-law's proof-of-income to qualify for a $204,000 refinance loan at a lower rate (3.75%) since my income is too low alone. Does her name go on the property deed? If so, can we use a quit claim deed to facilitate dropping her off of the deed at a later date?

Asked on 6/08/13, 10:23 am

1 Answer from Attorneys

Michael E. Hendrickson Attorney & Counsellor at Law
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No, not unless the lender requires her name on the deed (not too likely).

Otherwise, her name on the refinanced mortgage should be quite sufficient

(in my opinion).

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Answered on 6/08/13, 10:36 am

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