Will quitclaim remove liability under owner financed property?
I purchased a townhouse five years ago. The original note is owner financed with a seven year balloon. Note holder wants an additional sum for anyone to assume note which no one wants to pay. I have sold my townhouse (very difficult to sell) under a contract for deed which now has two year balloon and must be refinanced. I am buying a house - lender wants me to quitclaim and file the quitclaim with the Harris County Appraisal District. I think it is if filed the note holder will see the name change and could possibly call the entire loan due. I have explained this to the new buyer. Is there anything else I should do in this regard?
