The correct term is "quit claim" deed. A quitclaim deed transfers the grantor's interest in the property whatever that interest may be. There is no guarantee that the grantor owns 100% interest in the property nor does it list encumbrances. It is contrasted with a warranty deed which generally warrantees the grantor is the owner, that she/he has the right to sell the property and there are no encumbrances except those listed. Quitclaim deeds are the most common way to transfer property in some areas and are less common in others. They are used for many different conveyancing purposes such as easements, releasing a life estate, adding another owner to the title, inter-family transfers, deeds from a straw, etc.
The grantor's interest can always be determined and confirmed by a title examination by a professional.
You could file a quit claim deed. It will not remove your obligations under the mortgage and since the quit claim means they get the same rights you have, it doesn't to any good, except if there is any equity in the property after the sale, they will get it, not you.
You can quit claim your rights to the property. However, that doesn't quit claim your spouse's rights to the proprty. Once married the spouse in most states has rights to the property.
Quick Claim Deed is usually misspelled and should be Quit Claim Deed. If you are granting the deed you are "quitting" any interest in the property. A quitclaim deed is a fast and effective way of transfering property.
Tax sale property has a quit claim deed. Any liens on the property, mortgages, from the previous owner will remain on the property. You would be responsible to pay off the lien or the lien holder would foreclose.
Yes, if the rent arrearage was incurred before the sale.
They are not the same, a quit claim deed is a method of transferring rights to property. Joint owned is a form of ownership.
No. Once you have conveyed your interest by a quitclaim deed you are no longer the owner and therefore, you have no rights in the property.
You can transfer your real property to the trustee of a trust using a quitclaim deed.
Too late. The quitclaim deed conveyed the property and any structures on it unless you reserved the right to move them.
You document it as with any other sale of real property. Normally a Quit Claim deed would be executed. It would specify the amount paid and the release of any claim you might have on that property in exchange. Consult a probate attorney in your area for specifics.
If you look in the newspaper they will usually list any property sales in the classified ads section. Some people put up fliers as well.
Property Sale and Purchase In Mohali