Posted on: 18th Feb, 2009 12:18 pm
Hi, I've been doing house research, and have come across an old title where the owner signed the home over to an insurance company. The bottom of the title is stamped, "quitclaim deed." I'm confused because I have other evidence that the owner lived in the home for a couple years after this quitclaim. What might all this mean?
Hi Isabel,
The owner can stay in the property even after quitclaiming it to someone else, if he's got a life estate on it which allows him to stay there for the whole of his lifetime. It might also be possible that the insurance company allowed him to stay there for a few years after the deed was signed.
What you can do is you can do a title search on the property to know the title history of the property and who exactly owns it currently. That will give you a fair idea about the ownership of the property.
The owner can stay in the property even after quitclaiming it to someone else, if he's got a life estate on it which allows him to stay there for the whole of his lifetime. It might also be possible that the insurance company allowed him to stay there for a few years after the deed was signed.
What you can do is you can do a title search on the property to know the title history of the property and who exactly owns it currently. That will give you a fair idea about the ownership of the property.