| Re: Deed in lieu advice?
I believe quitclaim deeds by nature only transfer any interest/ownership to the extent that you actually possess. An example I remember reading is that I could go file a quitclaim deed releasing my interest in the Washington Monument to my brother, but that doesn't mean he actually gets anything because I have no real interest/ownership.
Seems this case would be the same. Since the property is secured by a deed of trust/trustee, quitclaiming it back to them doesn't really accomplish anything. It certainly does nothing to the loans and may end up complicating the process to the point that the bank has to resort to a judicial foreclosure to clean it all up.
But I don't really know. I'm not a lawyer. |