Posted on: 29th Nov, 2007 11:00 am
I am selling acreage back to the previous owner. Can I quitclaim this back to him and avoid all the title insurance and other fees??
Hi rnmedic,
Welcome to this forum.
I think as you are selling the property, you should better use warranty deed. The Warranty deed will make it hassle free for both you and the buyer.
Quitclaim deed is only used when it is gifted to anyone; or if there is any type of money transaction, it is much lesser than the actual market value of the property. So for selling the property you should better use a warranty deed.
Feel free to ask if you have any further questions.
Thanks,
Larry
Welcome to this forum.
I think as you are selling the property, you should better use warranty deed. The Warranty deed will make it hassle free for both you and the buyer.
Quitclaim deed is only used when it is gifted to anyone; or if there is any type of money transaction, it is much lesser than the actual market value of the property. So for selling the property you should better use a warranty deed.
Feel free to ask if you have any further questions.
Thanks,
Larry
Hello Rnmedic,
Do you have a mortgage on the property?
If not, it is better to use a warranty deed in case of a selling transaction as this will ensure that there are no liens on the property.
Do you have a mortgage on the property?
If not, it is better to use a warranty deed in case of a selling transaction as this will ensure that there are no liens on the property.
Is he paying cash?
