Posted on: 28th Oct, 2009 05:48 am
I am considering to buy a delinquent tax parcel/property from county government. If it goes through, the tranfer of the property will be in the form of quitclaim deed.
If quitclaim deed is the only form the county uses for the purchase and transfer of the property, is there anything and/or what I need to do to get warranty deed? The property is in the state of TN.
Any other potential issues for such purchase and transfer I should be aware of?
Thanks,
If quitclaim deed is the only form the county uses for the purchase and transfer of the property, is there anything and/or what I need to do to get warranty deed? The property is in the state of TN.
Any other potential issues for such purchase and transfer I should be aware of?
Thanks,
Hi Guest,
A quitclaim deed will be enough to transfer the property to you. However, a warranty deed would have been a better option. When you purchase the property make sure the quitclaim deed is properly recorded so your name shows on the title to the property. If you think there could be cloud over the property title, you can file a quiet title lawsuit in court and get a free and clear title to the property. You can also purchase a title insurance, which will protect you against losses in case any dispute arises in future due to any cloud on the title.
A quitclaim deed will be enough to transfer the property to you. However, a warranty deed would have been a better option. When you purchase the property make sure the quitclaim deed is properly recorded so your name shows on the title to the property. If you think there could be cloud over the property title, you can file a quiet title lawsuit in court and get a free and clear title to the property. You can also purchase a title insurance, which will protect you against losses in case any dispute arises in future due to any cloud on the title.