Posted on: 20th Nov, 2007 06:13 pm
Pursuant to a divorce, when a quitclaim deed is written to remove a former spouse from the title, is there some requirement that an exchange of money take place (which, in reality, there would not be)? Or, can you use the quitclaim deed even if the sum of monies exchanged is $0?
Hello Denis,
The transfer of interest in real estate by a quit claim does not require any exchange of money. Generally this deed is used in making a gift of property.
The transfer of interest in real estate by a quit claim does not require any exchange of money. Generally this deed is used in making a gift of property.
Hi Denis,
Welcome to this forum.
The quitclaim deed does not require any exchange of money between the grantor and the grantee. The grantor quitclaims and transfers the interest of the property to the grantee as gift.
Best of luck,
Larry
Welcome to this forum.
The quitclaim deed does not require any exchange of money between the grantor and the grantee. The grantor quitclaims and transfers the interest of the property to the grantee as gift.
Best of luck,
Larry