Quit Claim Deeds And Mortgage Loan Cosigners

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Summary: Can a quit claim deed be used to remove a cosigner on a mortgage? No, quit claim deeds affect property ownership interest only. Quit claim deeds will not take away responsibility for mortgage loan debt.

Q: I am a cosigner on a mortgage. Will a quit claim deed remove me from this debt?

A: No. Unfortunately it will not. The debt will remain but a quit claim deed will take away your ownership interest in the property.

Nov. 25, 2008.

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Related Topics

• home loan, 
• mortgage, 
• mortgage loan, 
• quit claim deed, 
• real estate, 
• title

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