I’ve been renting a condo that is owned by my mother. We’ve decided to purchase said condo. Mom’s going to hold the mortgage.
Her real-estate friend gave us the paperwork we’d need. He gave us a quit-claim deed, a mortgage deed, and a promissory note.
He instructed us not to fill out the terms on the mortgage deed (which seemed odd to me but what the hell do I know)
When we got down to the courhouse to file the papers they wouldn’t take the mortgage deed unless the terms were filled out. They said we could still file the quit-claim deed and that we could file the mortgage deed later but that the condo wouldn’t come up as ours in a title search until we do that so we wouldn’t be able to sell it without the mortgage deed.
And the condo association wants a copy of the warranty deed for the condo assn. membership to be transferred.
Three different deeds that do three different things but do we need all three?
I’m a bit confused and mom’s real-estate friend didn’t really give us all of the information we needed.
So, I’ve got the quit-claim deed with our names on it do I own the condo or is it not really a done deal until we do more paperwork?