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Yes. The owner can transfer it to a new owner without being paid at the time of sale but that's not a good idea. Since the grantee has the land there is no guarantee they will pay for it. It is better for the owner of the land to transfer it but then have the buyer sign a mortgage that can be recorded in the land records. That way the new owner cannot sell the property until it has been paid for.
You should consult with an attorney who specializes in real estate to draft the proper documents and make certain the sale is done properly.
What else can I help you with?
Is a quit claim part of a spouses one third of a estate?
A quit claim is a method of transferring property. It has nothing to do with the value of the estate.
A couple has two properties and quitclaims one to each other if one party forecloses can they lay claim to the other person property that was also quit claimed?
No, once there is a quit claim, the one who signs off is no longer an owner and has no claim over that property.
Is a warranty deed needed along with a quit claim deed when transferring property to a love one?
A warranty deed guarantees that a property owner has the clear title to a property and the right to sell it. Quit Claim assigns and interest to the property. Check with your state laws, but in many states the QC is enough.
If your friend and you want to have one of your names removed from a mortgage is a quit claim what you need?
No. A quit claim is simply declaring that person has no interest (economic or otherwise) in the property. They are being removed from the title. A quit claim has no impact on the loan that is secured on the property. Only the lender who owns the loan can release a party from the loan. For the most part a lender has no incentive to remove one person from the loan as that increased the risk to the lender for no benefit. The traditional way to remove a borrower is to pay off the loan. The party that wants to continue to own the property refinances with the old loan being paid off. Being on the property's title and being on the loan are two different things. A quit claim only impacts the title (ownership) and not the debt (the loan).
Quit Claim Deed?
Quit Claim Deed(Download)I, ______________, of _____________, _______, the grantor, for and in consideration of one dollars ($1), receipt of which is hereby acknowledged conveys and quitclaims to ________________ of ________, ________, all interest which I (we) have, if any, in the following described real estate:____________________________________________________________________________________________________________Dated: ______________________, 20____________Witnesses:______________________________________________Name:______________________________________________Name:Before me, the undersigned notary, ______________ acknowledged before me that ______________ executed this warranty deed as their free act and deed, and that the witnesses stated above witnessed at the request of ______________ the execution of this deed intending to be bound thereby._______________________________________________NotaryMy Commission Expires on:Quit Claim DeedReview ListThis review list is provided to inform you about this document in question and assist you in its preparation. The Quit Claim Deed should be notarized and filed with the appropriate local registry of deeds.1. Make multiple copies. Give one to the signatory and the recipient should keep one with the appropriate file after recording it with the local registry of deeds.
What are my rights if I am a heir and a successor trustee to my mothers estate when the one heir want to quit deed and the other heir want to sell the family property?
quit claim deed prevails
Can a joint property be seized for a judgment against only one spouse in the state of Texas Even though spouce signged quit claim deed before judgment?
In Texas, a joint property can still be seized for a judgment against one spouse, even if the other spouse signed a quit claim deed before the judgment. This is because Texas is a community property state, and joint assets are generally considered to be owned equally by both spouses regardless of individual financial obligations or actions such as signing a quit claim deed.
If you sold a property to your son 2 years ago and he just paid the last payment last month and the property is in your name can you exclude it from your bankruptcy?
Exclude it from what? The best way to deal with this one is to file a "quit claim" deed, assigning all of your interests to your son. It needs to be filed in the county recorders office before it takes effect.
What happens if a Quit Claim Deed is executed and before it is recorded an Attorney Lien is recorded on the property even though the person owing the debt is the one who executed the quit claim deed?
The lien is valid. A quit claim deed merely transfers the seller's interest in the property; it doesn't guarantee that the deed is free of any encumbrances - for that, one needs a warranty deed.
In a divorce situation in Florida should both the husband and wife be grantors on a quit-claim deed when conveying the property to one of the spouses as grantee?
Only the spouse who will not be getting the property needs to be a grantor on the deed. In essence, one of the spouses is surrendering their share of the property over to the other.
If both names on deed can spouse of deceased quit claim property to children?
In a situation where spouses hold property as joint tenants with right of survivorship, the death of one spouse makes the property belong wholly to the surviving spouse (subject to any mortgage or liens, etc.) Any owner of real property can quit claim their interest. So, yes. But a warranty deed (a regular deed) is a better way to go, especially when the property is being passed to more than one person, such as the case here. You want the deed to specify how the siblings hold the property, likely as tenants in common.
Can you quitclaim deed property to another person if their is more then one person on the original deed?
You can execute a 'quit claim' deed. It means that the person on the quit claim deed is giving all their rights to the property to the other person. It does not affect the rights of the other people on the deed.
