Posted on: 09th Jul, 2008 06:04 pm
WHAT ARE THE BENEFITS OF A QUICK CLAIM DEED
Welcome Guest.
Quitclaim deed helps you to transfer the a property even if there are liens attached to it as it doesn't shows whether the title is free from the liens or not.
Quitclaim deed helps you to transfer the a property even if there are liens attached to it as it doesn't shows whether the title is free from the liens or not.
hello guest,
the quitclaim deed transfers only someones interest in real property. it simply just says that if that person had any interest in the property, that they sign it over to you. they may not necessarily own the property being sold, but they hold responsibility for it. it does not establish title. the grantor might be on the title, or may have never been identified on that deed. he is only passing on his interest that he was granted in the property. he does not claim that the title is valid. he is not held responsible if any title defects are eventually found. most often they are used to just get the other persons name off of the title.
special note: a quitclaim will not release you from your obligation to any mortgage loan, or other lien secured against said property. refinancing is the best means to achieve this. the grantee must refinance the property using their own income, assets and credit, and they cannot use your income, assets or credit to get the financing approved.
title companies will not usually insure with a quitclaim deed.
i hope you have received the information you were looking for. let us know if you have other questions.
good luck.
the quitclaim deed transfers only someones interest in real property. it simply just says that if that person had any interest in the property, that they sign it over to you. they may not necessarily own the property being sold, but they hold responsibility for it. it does not establish title. the grantor might be on the title, or may have never been identified on that deed. he is only passing on his interest that he was granted in the property. he does not claim that the title is valid. he is not held responsible if any title defects are eventually found. most often they are used to just get the other persons name off of the title.
special note: a quitclaim will not release you from your obligation to any mortgage loan, or other lien secured against said property. refinancing is the best means to achieve this. the grantee must refinance the property using their own income, assets and credit, and they cannot use your income, assets or credit to get the financing approved.
title companies will not usually insure with a quitclaim deed.
i hope you have received the information you were looking for. let us know if you have other questions.
good luck.
