Posted on: 05th Jul, 2010 01:32 pm
is it just better for me to ask my landlord to sign a warranty deed than a quit claim deed; so i can have all the rights and ownership of the house i am presently leasing? the quit claim deed would only give me rights to the "interest" of the house and not the title, like the warranty deed would or would it not ?
Hi deedee,
If there is a mortgage on the property, then the landlord will not be able to provide you with a warranty deed. You can use a warranty deed for property transfer if the home is free and clear of all liens. In case, if that is not the situation, then you will have to use the quit claim deed in order to get the property transferred in your name.
Thanks
If there is a mortgage on the property, then the landlord will not be able to provide you with a warranty deed. You can use a warranty deed for property transfer if the home is free and clear of all liens. In case, if that is not the situation, then you will have to use the quit claim deed in order to get the property transferred in your name.
Thanks
Thank you for your quick response, once again. You guys are very helpful.
You're most welcome!!! :-)
Yes, a warranty deed will ensure that the ownership right is transferred I your name. But first you have to make sure that the granter holds the title in clear and free of liens, for example, mortgage lien. In that case, a quitclaim deed has to signed, but that will not warranty the ownership rights. As you said, it will only transfer a share in the interest in the property.
A warranty deed will be more suitable for you, only make sure that the granter does not have liabilities.
A warranty deed will be more suitable for you, only make sure that the granter does not have liabilities.