Tag: Property Conveyance
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Using a Quitclaim Deed: What Are the Drawbacks?
A quitclaim deed is a simple form that transfers a piece of real estate from one person to another. Any homeowner can fill out a quitclaim deed with their name and the name of the recipient, and the property’s existing legal description, sign it in front of a notary and record the document. That effectively…
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The Quitclaim Deed’s Function in a Contract for Deed Sale
A contract for deed sale can present a convenient alternative to the traditional real estate conveyance. In this owner-financed deal, the buyer usually lives on the property upon the execution of the contract. While enjoying the property, the buyer pays for it in monthly installments, until the agreed-upon price has been paid in full. Down the road, when full payment…
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An Unrecorded Quitclaim Deed Can Still Be Valid
An unrecorded quitclaim deed is still valid. While there is no time limit on recording a deed or recording required for a quitclaim deed to be valid, record all deeds as soon after the transaction as possible. Failure to record a deed could render transfer or mortgaging of the property impossible and create numerous legal…
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Using a Quitclaim Deed in Missouri to Create a Joint Estate
In Missouri, the creation of a joint estate in real property can be facilitated through the use of a quitclaim deed, as outlined in Section 442.025 of the Missouri state law. This legal instrument is often employed for its simplicity and efficiency in transferring ownership interests without warranty.