Deeding over a commericial property???

[Jarrett Harris]

I am wondering if someone simply deeds their multi unit building over to me what will the bank do? Will they call the loan due ( I know they can but will they)? What if the seller simply adds me to the deed and then removes himself a year later after I have taken over the building completely from him?

[Andy B.]

Why is the property being deeded to you? Are you buying the property from him? Have you asked the bank if they will allow you to assume the loan?

One thing to be aware of, most banks and title companies do not like quit claim deeds, so I would imagine a bank would always say no to a request for a quit claim deed.