Posted on: 02nd Oct, 2009 09:43 am
i own a house with a friend, i own 1/3 she owns 2/3 she paid cash and i am financing my 1/3, she now wants me to sign a quit claim deed stating the 1/3 - 2/3 ownership of the property is this a good idea for me to sign or not?
need help please cannot afford an attorney
nja
need help please cannot afford an attorney
nja
Quit claim deed will release your name from the property
Best suggestion would be to consult an attorney and ask them to draft the terms of your agreement between the two of you and that will be good for both of you
Best suggestion would be to consult an attorney and ask them to draft the terms of your agreement between the two of you and that will be good for both of you
Hi nancyantone,
If you have only 1/3 ownership of the property, then you can definitely sign a quitclaim deed mentioning that. As far as drafting the deed is concerned, as Sunny suggested, you can contact an attorney for that.
Thanks
If you have only 1/3 ownership of the property, then you can definitely sign a quitclaim deed mentioning that. As far as drafting the deed is concerned, as Sunny suggested, you can contact an attorney for that.
Thanks
Hi Nancy,
Consult attorney to draft the quit claim deed for you.
Consult attorney to draft the quit claim deed for you.
nancy if you are both in agreement as to the split in the ownership, then why is it that your title isn't already structured that way?
honestly, if you're okay with the arrangement, then i don't know why you wouldn't just go ahead and do it. yes, you'd be able to use a quit claim deed, and you can break down the portions as you wish.
do not do anything like this if you are unsure. in cases where you cannot afford an attorney, you'll generally find that you cannot NOT afford an attorney.
honestly, if you're okay with the arrangement, then i don't know why you wouldn't just go ahead and do it. yes, you'd be able to use a quit claim deed, and you can break down the portions as you wish.
do not do anything like this if you are unsure. in cases where you cannot afford an attorney, you'll generally find that you cannot NOT afford an attorney.
George your last statement is really confusing
Thank you George, the reason it was never done this way is that the closing attorney when I bought the 1/3 from her didn't do this, and it went un-noticed until we started making our wills out. And yes I am completely comfortable with the split, as that is what I own, only 1/3. Just wanted to make sure it was to beneficial to both parties.
i don't know what was unclear sunny.
apparently, it worked for nancy, which is the whole point of it anyway.
apparently, it worked for nancy, which is the whole point of it anyway.