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Preparing your own quit claim form or warranty deed in additon to saving money will also allow you to be in control of the process instead of being on someone elses time table.
What is a Quit Claim?
If you are selling or transferring property, you will need a quit claim. A quit claim states that the seller(grantor) no longer has a claim to a property. The grantor transfers to the buyer(grantee) all of the legal or equitable rights the grantor has in the property that existed at the time of the conveyance. This instrument transfers property ownership rights without any warranties and does not end an obligation to re-pay any balance.
What is a Warranty Deed?
A warranty deed guarantees the grantor has clear title to a property that is being transferred to a grantee without encumbrances except for any that are recorded and that the grantee will have possession of the property following the transfer.
When Will You Use a Quit Claim?
You will use a quit claim form to transfer property ownership rights in the event of many circumstances such as divorce, estate planning or selling real property. Quit claims are usually executed between people that already know each other but not always.
In divorce situations, when real estate is involved and one person is going to keep the property, the other person will need to quit claim or give up their portion to the other person.
If you prepare a living trust or some other estate planning tool other than a Will, you will need to transfer ownership of the real property into the trust with a quitclaim deed.
After the forms have been finalized and to make the transfer of property valid, the grantee must file the quit claim with the recorders office or real estate office in the county of his state where the property is located.
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I rcvd a portion of the money but now he tells me the buyer wants out. He is renting the home to a sect 8 lady & he always pays the mtg late & this is going on my credit report. My name is still on the mtg but he says he owes me no info re his plans to find a new buyer. I believe he intends to sell at a higher price than agreed in our contract so he can make more money meanwhile he collects rent & pockets the difference after he pays the mtg. & I am left hanging. Since I signed the QCD to the lady in the contract he says I am no longer the owner. She is. I don’t understand how since we never closed on this deal. And since she wants to back out what happens to that deed? I just want the balance of my money & my name off the mtg. Any suggestions what I can do? The contract was to be concluded the end of August 2007. Can’t afford a high price lawyer. Please Help!!!!
there was no written agreement. the loan is still in my name, i am still paying on it. I have moved away and now need to move back. house is vacant. I am the one on the loan…..do i have any rights to the property? I heard it is very simple and that the house is mine, i want to know if this is true. I can prove i live there, the loan is my name it is not delinquent, the address on my ID is still the one from the property. I received some cash (not even a check- no receipt-no written agreement) when I was in a bind and needed to leave the state for a fmly emergncy. I was convinced to sign the quitclaim deed for $3000 and to hand over the keys. It has been a year I am back in the state the house is vacant, i can not get in touch with the ppl i signed the deed over to. how can i legally get back in my house? PLEASE tell me. Is there anything tht should keep me from getting the locks changed and moving in, at this point?
I bought some property that was quit claimed by a third party back to the original owner without my knowledge or for any reason that i know. The third party was a property company that no longer exists and the original owner is deceased with four heirs who knows its my land. what do i do without locking it up in probate or costing me a fortune?
I bought it in 93 third party quit claimed in 94 i home steaded in 97 was billed taxes when i built my house in 2006. went to get copy of my warrenty deed and found out about the quit claim deed. I have original warrenty deed mortgage paper and all cancelled cks proving payment. Heirs said they would sign whatever i needed them too. we just dont know what we could have them sign
I quit claimed my house to two relatives so they could help me with getting a loan for repairs. I thought they were getting an equity loan but they got a second mortgage. A friend told me that in Florida because of past problems with flipping houses that quit claims are not legal without paying off the house.
The original mortgage company considers me the owner and only communicates with me. When my house sells and the balance due is paid, will the house then belong to the three of us?
We have a contract on the house to sell it signed by the three of us. Is that contract valid?
Do the three of us own the house or do I? How can I research this on my own?
In South Carolina, will the quit claim deed and bill of sale be sufficent? I do not live in that state.
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