Clint, I'd make sure you understand the implications of quit claim deed at closing with a loan in place under a different name.

I don't claim to be an expert at all.

Wrongful foreclosure claims may prevail when the debtor or owner is an active military member, bankruptcy action is pending, or probate is pending.

The capital gain, $100k, is taxed at capital gain rates.The $36,360 in depreciation recapture is added to and taxed as ordinary income (No ss/med tax) up to a max rate of 25%….since it was deducted from your ordinary income as you claimed it each year.  

Originally posted by @Steve Hall:@Grant RothenburgerWhy would you risk your own reputation by claiming that Scott is "responsive and nice" when:You've never even spoken to Scott Smith!

@Victor HongEven if you have had multiple claims, the state will provide insurance but the cost is going to be astronomical Why can you not get insurance ?

Again, I would take him to small claims because I document everything and know it would be worth my time.

He gave me the property (through a Quit Claim Deed) but his name is still on the mortgage (which I have now taken over payment for).

In the same vein, the buyer expects that the seller promises no other liens or claims to use the property being sold to him.

Akshay,If your moving out of a SFH primary and claiming 2-4 unit MF as a new primary it can present an issue with certain lenders.