QUIT CLAIM

There are many things in considering adding you to the title.

1. Is there a mortgage involved? If so then she is going to have to speak with her lender to make sure there are not any documents that you need to be signed. You don't have to be responsible for the note but the do need to know if you are going to have interest in the property. They may have you sign something simular to a deed of trust.

Filing a deed without their knowledge could result in a default in her loan agreement and could possibly result into her having to pay the full balance of her loan liken to a foreclosure.

2. If no lender is involved. I would not go for the quick claim deed. That is just something you can purchase from the office store and filling blanks.
You can take that same document and call it a "Paritial Warranty Deed" or "Partial Gift Deed" retype it to read as to your wishes or have a warranty deed prepare by an attorney. (Normally cost anywhere from $45-100 depending on the attorney.) Then have have your filed at your local county clerks office in which the county the house is in.

What you need to know about Quick Claim deed are:
1. They are not highly respeceted in the title industry, even though you have it filed of record. It may present a cloudy title.

2. They may not read exactly as you may wish. So you either have to re-type to read appriopiately or have one prepared by an attorney.
- The language on the deed will probably convey all the property interest to you and your mother is not trying to do this. She is only need to convey partial interest. So, if she is not giving you the land in its its entirety then it would be in her best interest to have it prepared by a real estate attorney.

Good luck! I hope this helps =)
TaWana S.
http://www.tawanastegall.com

There is no mortgage involved. She just thought it'd be a good idea since my name has gone on everything from her bank account to belongings since she was disabled. What do you mean by the quit claim could present a cloudy title?? We were told this would be the easiest way to do it.

You will not be affected as first time home buyer.

As far a cloudy title is concerned: In the event that you ever sell this property and your mother is deceased, (God forbids) If you use a title company, they are going to question the fact that your mother has no other heirs that would share interest in this property.

Since your mother is still living, this should not be a big problem. A quick claim deed is the simplistic way to go. It just screams "be aware" when you are trying to sell the property. Because the title companies see so many of this types deed, you can just pick one up from the store and sign it and file it. I can email you a gift deed and you can have it notarized and it would be the same affect as a quick claim deed, just worded a different way.

But, if you want to do a quick claim deed by all means, go ahead it will work. But you may have some issues down the line when it comes down to selling. I worked for a title company for years and in most cases they would not honor the quick claim deed, it is like the property never was conveyed. They would not insure the fact that it was a ligitamate claim.

So, if someone wish to get title insurane down the line it may go against their chances of getting a clean free and clear title versus a cloudy title.

Now, if you want to file a quick claim deed, make sure your mother has a will in place in the event of anything happening. If she ever passes away, make sure you get the will probated. That will solve your title issues. This is only if she has other children. If she don't have any other childen, then you should not have any issues.

so what's the difference between a gift deed and the quit claim deed? (sorry to be such a pest) :)

The only difference is the name. It serves the same purpose. Quick Claim just says, I bought this from the office store and Gift Deed or Warranty Deed just says I either paid some one to prepare this document or someone knew what they were doing to cater to my needs. But, they all serve the same purpose. A quick claim deed is just something anyone can get, an easy way out.

If you have knowledge of other types of vesting deeds you can tell how much a person knows when they file a quick claim deed. If you see a gift deed, this just says I am giving this property away, no strings attached.

A vesting deed titled "warranty deed" is normally want you would see in a real estate transaction and the most common legitmate type of vesting deed. When I say vesting it means conveying property from one person to another in the form of a document.

A quick claim, gift, and warrant deed all have different title but they serve the same purpose. But you see a lot of gifts deeds mainly when property is being gifted between family members or if you are giving it away and you want to let the world now that this is a gift.

That's why I said you can take a quick claim deed retype it in Word and print it off and name it "Warranty Deed" and you will not be question to the fact down the line if the title is legitmate. But "Quick Claim" screams "be aware" dig a little deeper, these people really don't know what they are doing so let's check this out to make sure this is truly acceptable.

That's just from experience. It always raises a question as to, Is this truly legitmate?

Thank you so much for your help!!!!

One more thing, how do they know if you're adding a person to a title and not changing completely. You can have 2 people on right?

50 people can have interest in a piece of property. There is not limit to how many people can own a piece of property.

You need to do a partial warranty deed, you want to only convey partial interest not full if your mother is not intending to give all of the property to you. That's another thing, I have never seen a partial quick claim deed, if you file something like that it is like she is giving you all of her interest in the property.

So the partial deed need to spell out how much interest is being conveyed in percentage value.

So you can have two people.

Better yet she can just deed it from herself to you and herself. So, the Grantor should be (herself) the grantee should read (your name and her name) if you have to do a quick claim deed. Then you don't have to worry about a partial deed spelling out the interest involved.

If two people names are on the deed then it is assumed that each party has a 50/50 % interest in the property.

I have land for sale that has never had a mortgage on it but the land adjacent to mine has been foreclosed on and sold again, but their warranty deed has my land description causing us a problem selling ours. what do we do?

Yep Susie you do have a propblem.

I would first start by going to the county clerks offic and looking up the property adjacent to yours. (Check to see if their records are avaliable online, it would save you some time)

If you have to go to the county clerks office, you should be able to print off a copy of the foreclosure deed and a copy of what ever else you may want to get.

then you want to look up your name and get a copy of your deed if you don't have the orginal.(get a certified copy)


Make sure you get the lenders information on who foreclosed on the property and contact them. Let them know your situation. It has to go back further than this.

You may need to get a real estate attorney involved. That would be your best interest. If you don't know how to dig your way through it, the right people to ask or the right questions to ask.

This is a very sticky situation and it is not that simple as just getting a quitclaimdeed.

Good luck

Hi

This is indeed a sticky situation.

Susie, it'll be well worth your while to consult a real estate attorney to get rid of this issue.

My mother and I finally got the quit claim notarized. Is it necessary for her to take it to the county recorder's office or can I? Does it make a difference?

I got a quit claim prepared to add me to the title of my mother's home. Now I need an affidavit of propery value? Can't I claim an exemption like "A4": deed to quiet title or "B3": transfer between parent and child with only nominal actual consideration for transfer?

Hi Guest,

I don't think it is necessary for your mother to take the deed to the recorders office. You can do it yourself. As long as the deed is properly signed and notarized, it is considered as valid and it hardly makes any difference who takes it to the recorders office.

Hi Guest,

As this is a transfer of property between your mother and you, I believe you can claim exemption from filing affidavit of property value under exemption code B3. However, you will have to mention the statute no. and the exemption code on the deed.