quitclaim deed

[tlwhite]

i live in tennessee. my brother recently lost a house to the county for delinquent taxes. the county sold it. my brother has one year to catch up the taxes and reclaim it. if he quitclaims it to me and pay the taxes what are the risks and what happens to the old mortgage and lien ? thanks, tlwhite

 

[Indiana Filer]

i live in tennessee. my brother recently lost a house to the county for delinquent taxes. the county sold it. my brother has one year to catch up the taxes and reclaim it. if he quitclaims it to me and pay the taxes what are the risks and what happens to the old mortgage and lien ? thanks, tlwhite

Your brother still owes the mortgage company for the property, and they will probably sue him in the near future, unless he has made other arrangements with them.

You will not be able to get clear title easily.

 

[JETX]

if he quitclaims it to me and pay the taxes what are the risks and what happens to the old mortgage and lien ?

First, he can't quit claim the property to you as he doesn't 'own' it. The mortgage company holds a security interest on the property and will exercise it by seizing the property. Actually, I am surprised they haven't already done that.
And if you try get involved, google 'fraudulent conveyance'.

 

[tlwhite]

thanks, for the feedback. i too am surprised that the mortgage co. has not seized the property. i talked to an attorney here, who said he thought that since they had every opportunity to pay the taxes but did not and allowed the property to be seized and sold by the county,he thinks they forfeited the property.i don't know.all i know is this is my only shot at my inheritance, because my brother and family are in my parents house and are now three months behind in that mortgage.looks hopeless. tlwhite