Quit Claim Deeds and Mortgage Loans

Added December 17, 2008 by Ilyce R. Glink

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Summary: Will a quit claim deed remove your name from the mortgage? No, quit claim deeds only remove your name from the house deed, not the mortgage. If you have a quit claim deed on your property, you're still liable for the mortgage but have no ownership rights.

Q: Will a quit claim remove my name from the mortgage or will I still be responsible for the house payment if the other owner of the home does not pay the mortgage?

A: A quit claim deed removes your name from the deed -- but leaves it on the mortgage. So, you're liable for the mortgage but have no ownership rights. It's the worst possible scenario.

Dec. 17, 2008.

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