What is a quick claim deed transfer?

Answer 1

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)!"

Answer 2

A 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.

Answer 3

The 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.

Answer 4

A 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.

Answer 5

It is a 'quit claim' deed. It means the grantor gives any rights to the property to the new person.

Answer 6

Quit deed