Select the state and county where the property is located.Indicate the type of property involved in the transfer (commercial, residential, or land).It’s an easy process that requires just a few steps, including: You’ll also find examples of quitclaim deed forms online for reference. You can create a quitclaim deed online by using a standard template or website with step-by-step instructions. When you have a previous owner sign a quitclaim deed, this clears any issues of title ownership and allows for the transfer of the title. When some ownership and property claim documents are missing or incomplete, this may raise concerns about who owns or has a claim to the land. This situation may occur with a foreclosed property where a previous owner defaulted on mortgage payments. A quitclaim deed can clear the title and release previous liens and claims. If there is an unreleased lien or document on a property title, this could render the current ownership invalid. In some cases, a property’s title may include a lien or claim on a previous owner and claim land or real estate. Title Defects and Clearing Previous Liens or Claims In cases where there are more complex property transfers, multiple parties are included in a land claim. If you intend to remove an individual from a mortgage, refinancing the mortgage is required. This process is most common in the event of a divorce or to prevent a family member from claiming ownership of real estate or land in the future.Īn ex-spouse can remain on the mortgage, even when a change to ownership with a quitclaim. There is a degree of flexibility for grantors to remove an ex-spouse or family member. Removing Family Members and Ex-Spouses from Property Deeds You can also use this type of deed to transfer property interest to a limited liability corporation or business partner. If there is joint ownership of the property, such as between spouses or family members, quitclaim deeds can be used to transfer the property to other relatives, including children. It’s also ideal for adding relative or new parties to claim ownership. Adding Parties to a Property DeedĪ quitclaim deed is an easy way to add a new spouse to a title following a marriage. This type of deed is ideal when the property transfers to another party and one or more individuals need to be removed from the title. A quitclaim deed is also used to remove a name or persons from a property title. At the same time, this form is often used to transfer land or real estate between family members or spouses. Quitclaim deeds are commonly used to transfer property.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |