Posted on: 08th Nov, 2011 04:21 pm
Is it a legal requirement to mention in the QCD how much your mortgage is, especially when you are not paying any money to the relative who is signing a QCD form and you take a new mortgage to pay for the purchase.
Hi Hamid Khalili,
A QCD may be purchased for a small sum as protection against the possibility that the grantor has a substantial interest unknown to him. It is therefore possible for a grantee to receive no actual interest, and – because a quitclaim deed offers no warranty – have no legal recourse to recover their losses.
:idea:
A QCD may be purchased for a small sum as protection against the possibility that the grantor has a substantial interest unknown to him. It is therefore possible for a grantee to receive no actual interest, and – because a quitclaim deed offers no warranty – have no legal recourse to recover their losses.
:idea:
Hi Hamid,
I have never heard the fact that you need to mention your mortgage amount in your quitclaim deed. In the deed, you need to mention only the amount for which the property is being sold.
Thanks
I have never heard the fact that you need to mention your mortgage amount in your quitclaim deed. In the deed, you need to mention only the amount for which the property is being sold.
Thanks
