This economy stimulates a lot of questions about foreclosures and short sales.  A recent one:

“Can I save my property from foreclosure by quit claiming it to someone else?” 

No, I’m afraid not.  The loan is tied to the property, so while you can transfer your interest in the property to someone else through a quit claim deed, the liens stay connected.  One further note – you want to be really careful with quit claim deeds, whether you are the grantor (the one transferring an interest) or the grantee (the one getting the interest).  They can get either side in trouble if you don’t know what you’re doing. 

Any examples out there? 

If you have a thought or an experience to share, please feel free.  Pooled knowledge is really helpful.  Just post a comment – or a further question – and we can all help each other.

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