QUESTION

Is a quitclaim deed a legal way to get my name out of the property?

Asked on May 07th, 2014 on Foreclosures - Florida
More details to this question:
I have a chapter 7 bankruptcy discharge dated October 2011. Bank filed for foreclosure and sent notice to me and the tenants to vacate property in 2011. I vacated the tenants and house has been abandoned for almost four years. I found out later that they never took possession of the house. I called the bank numerous times to surrender the property but they have not answered and property still under my name even though the bank filed foreclosure a few more times but they never go through with it. I am trapped in this no end game affecting my entire life, getting bills from the City of Miami code and not allowing me to re build my credit worthiness. I read on a real state blog that I could sell the house for whatever ridiculous amount like $10,000 - $20,000 by means of a Quitclaim deed to get the house out of my name since I am not liable for the debt discharged in chapter 7. Is this possible in Florida? The bank is not willing to help or give any solution just staling. They don't take the property and they don't give me a chance to get on with my life. If this is possible, then do I send the money to the bank? Please help. Thank you.
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2 ANSWERS

Erik Brito Espinosa
You may have much better options than you think. It is possible to quit claim the property and you wouldn't pay anything to the bank, but you may have ways to make money in the process instead of just walking away. Consultations are free, and can be done over the telephone, but details on your situation I believe requires additional knowledge about your foreclosure case status, additional liens that may be in place and what value the property has.
Answered on May 08th, 2014 at 10:27 AM

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Criminal Defense Attorney serving Deltona, FL at R. Jason de Groot, P.A.
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You could try to sell the property, but the purchaser would take it subject to the mortgage, and if you do not tell the purchaser about the mortgage on the property, you might commit a fraud. Do a deed in lieu of foreclosure, instead.
Answered on May 08th, 2014 at 9:51 AM

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