Posted on: 01st Sep, 2008 06:33 am
we are trying to buy a home & property that is owned under a quit claim deed, the owner got the home from his father, but our lawyer is saying that the property is not theres tto sell. is this ture and how do we go abouts buying the place. someone told me that we cant and that the property would become crown land. can you help me figure this out. thanks
Listen to your lawyer.
This is why I recommend against using a quitclaim deed. A quitclaim deed does not transfer a property interest, it merely renounces any potential interest one may have. A quitclaim deed in a chain of title can have serious negative consequences, as you are seeing.
You can still buy the property, but make sure you obtain a title insurance policy. They will research the title and make sure you are purchasing the "fee" interest in the property.
This is why I recommend against using a quitclaim deed. A quitclaim deed does not transfer a property interest, it merely renounces any potential interest one may have. A quitclaim deed in a chain of title can have serious negative consequences, as you are seeing.
You can still buy the property, but make sure you obtain a title insurance policy. They will research the title and make sure you are purchasing the "fee" interest in the property.