What to do if the grantee on a quit claim deed defaulted on the terms of the contract?
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What to do if the grantee on a quit claim deed defaulted on the terms of the contract?
Property was deeded to the grantee under the terms that the grantee would assume the mortgage responsibilities on the property. In the last 9 months only 1 payment has been made. Can anything be done to get the deed reversed? Should I just let the property get forclosed on? What happens if it is sold by the grantee – does the mortgate automatially get paid off by the realestate office? The grantee lived on the property was working with a grantwriter in order to develop the property and was told by the grantwriter that it would be easier if the property was already in the grantee name.
Asked on July 19, 2012 under Real Estate Law, Michigan
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
It is time to get a lawyer. Verbal contracts regarding the "sale" of real estate are not valid under the law and you can not make agreements about paying mortgages like that. It most certainly violates the mortgage agreement. Please, please get legal help. It sounds like you have been duped. Good luck.
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