Posted on: 24th Oct, 2009 08:44 am
I am considering to buy a delinquent tax parcel/property from county government. If it goes through, the tranfer of the property will be in the form of quitclaim deed. Any potential issues for such purchase and transfer I should be aware of?
if you buyign somethign so big anf that too from a unkonw person, then do not do quit claim deed
you need to do warranty deed
quit claim deed does nto gurantee that there are no pending liabilites
warrnty deed helps to ensure that there are no other liens or claims
http://www.mortgagefit.com/warranty-deed.html
http://www.mortgagefit.com/search/quitclaim-deed.html
read the above link and that will provide you more details
you need to do warranty deed
quit claim deed does nto gurantee that there are no pending liabilites
warrnty deed helps to ensure that there are no other liens or claims
http://www.mortgagefit.com/warranty-deed.html
http://www.mortgagefit.com/search/quitclaim-deed.html
read the above link and that will provide you more details
Thanks for the e-mail. If quitclaim deed is the only form the county uses for the purchase and transfer of the property, is there anything and/or what I need to do to get warranty deed? The property is in the state of TN.
Hi yzhou,
You can use a warranty deed to transfer the property in your name only if the property is free and clear. As the property taxes are delinquent, you won't receive a warranty deed for the property transfer.
You can use a warranty deed to transfer the property in your name only if the property is free and clear. As the property taxes are delinquent, you won't receive a warranty deed for the property transfer.
Thanks again for the information. Anything else I can do?