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Updated over 8 years ago on . Most recent reply
HELP! Quit claim live in flip!!!!! Title issues
Hello, 3 years ago I purchased my first home for $227,000 in Grapevine, TX with zero down! I managed to do this because the property was worth $280,000 at the time. On title it showed as a gift of equity. My great grand mother (currently 97), who I've lived with and taken care of since I was 15years old in high school as co-signer on the loan.
November of 2015 my grandmother Quit claimed her interest in the property over to me. Making myself the sole owner of the property. Recently, she had a stroke and I can no longer take care of her despite my best efforts to keep her out of the nursing home as long as possible. My plan from the beginning was to live in the house with her and one day flip it. I've already remodeled the entire property and is on the market for $375,000, but the title companies are saying the underwritten won't insure a quit claim deed. Please any advice or suggestion will help! Thank you!
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- Real Estate Professional
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@Leo Lanza Don't second guess the title co. Pay them to prepare the warranty deed, they may title something like a "corrective deed" or whatever. As @Jay Hinrichs said, having signed the QCD doesn't prevent her from signing the warranty deed.