QUESTION
What is the best way to get rid of this property while maintaining our integrity and excellent credit rating?
Asked on May 02nd, 2014 on Estate Planning - California
More details to this question:
We own a piece of property in CA. It is fully paid for and not worth much. We are paying year dues to the Owner’s Association. Can we just give it to them or quitclaim it to them? Do they have to accept it?
2 ANSWERS
Edwin K. Niles
You could, of course, just record a deed to whomever. Not sure if the HOA is a legal entity which could transfer title. Might be better to transfer to a neighbor.
Answered on May 05th, 2014 at 4:11 PM
2 Awards
If you want to maintain your credit rating you need to sell the property. You cannot just give it back to the owner's association. Contact a real estate agent. There is no down side to selling.
Answered on May 05th, 2014 at 6:42 AM