Quit claim deed
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Quit claim deed
I have a quit claim deed for my residence from my mother who owned it but is now
deceased. However, the mortgage is in her name and I have been paying it for
over the last 10 years. Am I entitled to proceeds if the house is sold?
Asked on May 31, 2019 under Real Estate Law, Florida
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
Just because the house is out of your mother's name does not automatically release the lender's lein on it. Therefore, as long as you are the legal owner (which you are since your mother deeded the property to you), then you are entitled to the net sale proceeeds. This is the amount being paid for the house minus expenses, in this case the payoff of the mortgage.
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
Just because the house is out of your mother's name does not automatically release the lender's lein on it. Therefore, as long as you are the legal owner (which you are since your mother deeded the property to you), then you are entitled to the net sale proceeeds. This is the amount being paid for the house minus expenses, in this case the payoff of the mortgage.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.