Posted on: 12th Apr, 2010 08:17 am
i am considring doing a quit claim deed land contract puchase, asumming the back taxes. what should i have done and will i have all rights to property while paying back taxes and while under contract? deed is free and clear of any and all mortgages, just back taxes have to be paid. who will hold title to property while under contract? and what steps should i take before signing contract?
Hi sanfordphelps!
Welcome to forums!
If the seller quit claims the property to you, then you would be the owner of the property. As per the contract, you'll have to keep on making the payments on the back taxes. Once you pay off the back taxes, you'll be released of the contract. You should check out the contract properly in order to know the terms and conditions. You can contact an attorney and he'll help you in understanding the legal terms of the contract.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If the seller quit claims the property to you, then you would be the owner of the property. As per the contract, you'll have to keep on making the payments on the back taxes. Once you pay off the back taxes, you'll be released of the contract. You should check out the contract properly in order to know the terms and conditions. You can contact an attorney and he'll help you in understanding the legal terms of the contract.
Feel free to ask if you've further queries.
Sussane