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I have a property in California that my mother lives in, I reside in Nevada, the loan is under my name but I quitclaim on property to my sister because she stated she will buy the house in few months and I will not be responsible for this property any longer, but it has been years that she hasn’t get a new loan or has any attention of changing the name on the title and it is effecting my credit. She is the one that paying the mortgage but name on the loan is on my name, I want to refinance the house to lower the mortgage payments so we can pay off or sale the house. Can I Refinance or sell the house or recall quitclaim?
Asked on October 12, 2017 under Real Estate Law, Nevada
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 3 years ago | Contributor
If you quitclaimed the home to your sister, you are no longer the owner of the home: you gave up all your rights in and interests to the home to your sister. While you remain obligated under the existing mortgage, which is a contract between you and the lender, since you do not own the home, you have no right to refinance. You also cannot "recall [the] quitclaim"--once you give something to someone (e.g. quitclaim your home to your sister), you have no right to undo that or get the property back. You gave your property unconditionally to your sister without getting anything in return but a likely unenforceable promise.