quit deed

[confused72]

my mother & father own a home together they are both on the mortgage. he has racked up 48k of debt without my mother knowing would he be able to sign a quit deed over to her without them losing the house. any help appreciated thx

[sandyRoe]

His creditors wouldn't like the idea of him 'giving away' an asset to avoid paying his debts Your mother should contact the CAB.

[confused72]

thx for the reply he would be paying his debts they just dont want to lose the house. so need to know if this is possible?

[Buenchico]

Any change to the title deeds would require the consent of the mortgage lender, which would not be forthcoming.

Further, if your father declares himself bankrupt (or if others petition for his bankruptcy) the Official Receiver will almost certainly rule that your father had not lawfully disposed of his beneficial interest in the property:
http://www.insolvency...eleafletspdf/home.pdf

If your father is considering bankruptcy he needs to read this:
http://www.insolvency...guidetobankruptcy.pdf

Chris