Quick Claim Deed
What is a Quick Claim Deed?
Quick Claim Deed is simply the abbreviation of quitclaim deed. There is nothing called Quick Claim Deed. Quit claim deed is a legal document that helps you to transfer a real estate property from one person to another A quitclaim deed says that if you have any interest in the property then you are transferring it to the grantor.
When to use a quitclaim deed?
A quitclaim deed is generally used to transfer a real estate property among family members and friends. This is mostly used at time of divorce. At the time of divorce married couples transfer the share of property that he or she owns to his or her spouse. Parents may also use a quitclaim deed to transfer their share of property to their children.
How to file a quick claim deed?
It is very easy to fill a quitclaim deed and you can do it on your own but you should better take help from an experienced Attorney to fill the deed for you so that you do not have to face any problems in future. The grantee needs to sign the deeds and then the quitclaim deed needs to be notarized and recorded in the county recorder’s office to make the deed valid. The time period of recording the deed varies from state to state. So it better to Record that quitclaim deed as soon as possible.
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I think that reverse mortgages and second mortgage are almost similar concepts.
Reverse mortgages own been around for abundant senescence, however they keep develop into a matter of family financing discussion the last couple causticity. One of the above reasons for this is the drastically rising masses of retirees.
nice! i’m gonna make my blog
I was researching quitclaim’s for a paper on property ownership- and found this sad story about a wife that lost her home after her husband tricked her into signing a quitclaim during a refinance:
http://www.bankapedia.com/mortgage-encyclopedia/residential-mortgage-terms/309-quitclaim-deed
poor lady- I guess the lesson is be careful with these things
No doubt, a quit claim is a good option if you wish to take over or give up interest in a property. But as far as the transfer of title or ownership rights is concerned, it offers no warranty.