Posted by Ed Copp (OH) on March 08, 2000 at 07:36:07:
Hello AJ,
I am not sure why you are using a quit claim deed. I us a General Warrantee Deed in situations as this. The reason being that the seller is obligated to help me defend the title to the property when a warrantee deed is used. This is not the case with a quit claim. So I like the warrantee deed better.
As for the due on sale clause as it applies to the V.A. loan and the use of the wording “subject to”. May I suggest that you go to the LEGAL CORNER link on this site and read the free articles. The answer is there…ED
I have recently taken a property subject to the existing VA mortgage. I had the seller sign a Quit Claim Deed and had it notorized. I have done a title search to insure that there are no problems with the title or judgements against seller. I have not yet recorded the Quit Claim Deed because of concern over triggering DOS. The mortgage payment is PITI so my consern is that because recording will show a transfer of title the mortgage company will learn of the transfer when the name on the property taxes change. My intention is to L/O this property to get a buyer into it quickly. Is there a time limit on recording the deed? Should I go ahead and record it now or record when I have a qualified buyer?