My question involves real estate located in the State of: California
Hello, I purchased a home using my credit as a first time buyer for my dad since he did not have the credit but he pays the morgage every month. I am getting married and he wants me to sign the "quitclaim deed" to transfer the title to him but the loan would still be under my name since he still cannot refinance. I wanted to know if this is the right thing to do since the loan still stays under my name and the asset over debt ratio would be negative in this case since the property is no longer under my name. I am afraid that I would not be able to ever buy anything even a car since I have a big loan under my name and no property to back it up. My future husband is aware of the house status and he is willing to sign pre-nup to clarify that this is my dadís house and in future he cannot claim anything for it. Would you please advice me?