Quit Claim Deeds and Negotiating Liens on Property

[Brian Watkins]

A Seller was about to lose their home to a pending foreclosure. They decided to do a Quit Claim Deed to their business (which now owns the property). The remainder of the mortgage is now a $65,000 lien on the property.

The seller decides they want to Quit Claim deed the property to a new owner. Can the new owner negotiate with the bank to have that lien amount reduced? Is that possible?

The property is uninhabitable.