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If you mean a "Quit Claim Deed". Here's your answer.For instance if you own a house and you just want out of it, no money, just out. You would sign a Quit Claim Deed to transfer all of your "interest" in that home to another person, giving up your responsiblity or "interest" to the house. This is signed in front of a notary public and filed with the courts and the mortgager. You then are no longer responsible for the payments, the other party is now legally responible for the debt. If they do not pay, you have one year to make up the payments and have it returned to you. If you don't want to do this, it shows no reflection on your credit.goog
Quit Claim Deeds are typically when a person is looking to purchase a certain property but for some reason the chain of title is unclear, leaving the possibility that some person who claims no interest in the property may actually have some legal interest in that property. The buyer will ask the "non-claiming" person to sign a Quit Claim Deed to officially acknowledge that he/she does not make any claim to title. This protects the buyer from the person later coming back & saying, "You know, I do want to claim an interest in that property, now that it is more valuable (for whatever reason)!"
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoA quick deed is a legal document where a owner of real property relinquishes all rights to the property to the purchaser. ' Quitting' all rights and claims to said property allows the transfer of said property to the new owner.
Wiki User
∙ 14y agoThe correct term is quitclaim deed.
Deeds are the method by which the title to real property (land) is transferred to a new owner. A quitclaim deed will transfer any and all interest a person owns in a particular property. However, a quitclaim deed is no guaranty that the person owns any interest in the particular property. To determine if the deed is good the title to the real estate must be examined by a professional to determine exactly what the grantor owns and whether they own 100% of the interest in the property.
Wiki User
∙ 7y agoA quit claim deed is a legal instrument that transfers any and all interest in the real estate owned by the grantor. It is the customary way to transfer an interest in real estate in many jurisdictions. By signing a quit claim deed the grantor transfers any interest they own or may own in the real estate but does not warranty the title. A comprehensive title examination should be performed to confirm that the grantor is the owner of the property. Quitclaim deeds are also used to clear title defects that are disclosed by the title examination.
It should be noted that signing a quitclaim deed does not relieve the grantor of responsibility to pay any outstanding mortgage. The grantee would take the property subject to the mortgage and if the mortgage isn't paid the bank will take possession of the property by foreclosure against the original mortgagor.
Wiki User
∙ 9y agoIt is a 'quit claim' deed. It means the grantor gives any rights to the property to the new person.
Anonymous
Quit deed
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Can I file a quick claim on a deed in trust?
You can transfer your real property to the trustee of a trust using a quitclaim deed.
Can I quick deed my father's house he died in March?
If you are not on the title, no, you cannot quit claim the deed. The executor of the estate will have to execute a transfer of the property, once the estate is settled.
what is a ouick claim deed?
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.
Who signs as the affiant line in the quick claim deed?
the grantor
Is quick claim deed the same as joint owned?
They are not the same, a quit claim deed is a method of transferring rights to property. Joint owned is a form of ownership.
In ohio if i sign a quick claim deed to land and a house when my name is on the loan what exactly does this mean for me?
In Ohio, signing a quick claim deed to land and a house when your name is on the loan will still make you legally responsible for the loan.
In ohio if i sign a quick claim deed to land and a house when my name is on the loan what exactly does this mean for me-?
In Ohio, if you sign a quick claim deed to land and a house when your name is still on the mortgage loan, you will still be responsible to the bank.
If you paid the equity to your spouse from your divorce and obtain a quick claim deed can his name be dropped from the deed without refinancing?
It is a "quit claim deed" that you have to obtain and you have to refinance to drop the other name. It is a "quit claim deed" that you have to obtain and you have to refinance to drop the other name. It is a "quit claim deed" that you have to obtain and you have to refinance to drop the other name. It is a "quit claim deed" that you have to obtain and you have to refinance to drop the other name.
Can you get your property back if you sign a quick claim deed consider the fact the person signing the deed did not read or speak the language the dead is in?
It is called a quit claim deed. Once you have filed the quit claim deed, you no longer have a legal right to whatever the deed refers to. The only way to get it back is to have the current person with possesory interest and ownership to sign a quit claim deed in your favor.
Is it illegal to quick claim deed to someone other than family?
To start with, it is a "quit" claim deed. And basically you are relinquishing your share of the property to someone else. This usually happens when there are two names on the deed and one wants out of ownership. They usually quit claim deed their share to the other person on the deed. Family has nothing to do with it. The only thing that MIGHT affect this transfer is if it was agreed upon prior to taking ownership of the property that it can only be transferred to someone within the family. Rare, but who knows, this stipulation might exist. In most states one tenant by the entirety cannot transfer their interest in the property.
Can a person named in a will still inherit if someone else has a quick claim deed to the property?
You are referring to a "quitclaim" deed. If the deed is valid then the person named in the deed is the rightful owner.
Where do you file a quit claim deed?
A quit claim deed is a very simple form, you can probably get one online or at the courthouse or a title company. Anyone can file the deed, it is just a matter of taking it to the court house and paying the fees.
