Tag: quitclaim deed
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Defending a Quitclaim Deed
The quitclaim is famous for being the simplest way to give up an interest in real estate. Unlike a warranty deed, the quitclaim grants whatever interest a person has to the other person, but offers no assurances that the title is clear. Once a quitclaim is signed and recorded, can the deed be challenged in…
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Don’t Quit Your Claim! A Quitclaim Deed Is Not a Mortgage Saving or Estate Planning Tool
A quitclaim deed conveys—”quits”—a person’s interest in a property to someone else. Quitclaims prove useful in certain transfers of properties among family members or between divorcing spouses. The quitclaim allows separating partners to follow a court’s direction and leave one party as sole owner of the marital home. Quitclaims might seem convenient in other circumstances, but…
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Adding Your Spouse to the Deed
You’ve just gotten married, and already own a house in your own name. You want to share everything with your spouse, including your real estate, so adding their name to the title is part of being married, correct? Well … maybe. Much depends on the terms of your mortgage, and whether your spouse has serious…
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The Quitclaim Deed and Fraudulent Real Estate Transactions
Quitclaim deeds show up commonly in fraudulent real estate transactions. This type of deed fraud can impact elderly people, buyers purchasing real estate from strangers without warranty, renters who are paying someone who is not a legitimate owner, and anyone involved who might buy, sell, or own property. Here, we examine how it happens and…
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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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What is a Special Warranty Deed?
If you’re like most people planning to make a real estate purchase, you want to know that the property you’re purchasing is actually owned by the seller, that it’s in reasonably good shape, and that the title is free of defects. Real estate transactions aren’t always as seamless or clean as buyers might like, though.…
