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Can I buy a home in florida with Land Contract or quit claims deed.?
I am taking over the house from my mother in law. She has a mortgage on it. We want to do a quit claims deed to make sure that after I pay the morgage off she doesn’t want the house back. Is a Quit claims deed enough. We are doing this because I don’t have any credit and after i show that I am the one paying on it I can refinance.
If you are already concerned about her wanting the house back, don’t do a land contract (AKA contract for deed). On these, when you do get your financing together, you need her to sign it over to you. If she refuses, if you can’t find her, if she’s died, you’ve got trouble… you called her your mother in law….. if you get divorced from her son… probably trouble too.
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