Posted on: 01st Aug, 2009 03:43 pm
how does quit claim work
in quit claim deed, current owner will sign as grantor. name of new owners will be mentioned as grantee. deed has to be notarized
also note that quit claim deed does not guarantee that property is free from tax & mortgage.
Hi loriet,
A quitclaim deed is a legal document which can be used to transfer any real estate property. The deed needs to be notarized and filed once it is signed in order to make it valid. To know more about quitclaim deed, check out the following link:
http://www.mortgagefit.com/quitclaim-deed.html
A quitclaim deed is a legal document which can be used to transfer any real estate property. The deed needs to be notarized and filed once it is signed in order to make it valid. To know more about quitclaim deed, check out the following link:
http://www.mortgagefit.com/quitclaim-deed.html
don't overlook what william has noted about there being no guarantee that a property is mortgage-free, etc.
also, a quit claim deed conveys the interest a person has in a property. if that interest is zero, then that's what the grantee (recipient) will get. this is an important thing to remember. for example, i could quit claim to you my interest in some property in montana, and that would be valid; but my interest could be (would be) nothing, since i own no property in montana.
also, a quit claim deed conveys the interest a person has in a property. if that interest is zero, then that's what the grantee (recipient) will get. this is an important thing to remember. for example, i could quit claim to you my interest in some property in montana, and that would be valid; but my interest could be (would be) nothing, since i own no property in montana.