I wish I could ask you some questions...I believe I am experiencing a lot of corruption. The Quit Claim Deed does NOT give up ownership, only a certain claim to the property. That makes a huge difference already in my circumstance. Thank you.
The quit claim deed transfers only the interest that you have in the property. You “quit claiming” your interest in the property and it is transferred by the quit claim deed.
Lee, i'm reviewing the history for a property on my county's website...why would someone have a QuitClaim Deed FROM and TO themselves ??...for instance..I see a property where the two-family members are listed as both the Grantor and Grantee for a property
There could be various reasons for doing it. Often it is done because the owners want to change from joint tenants to tenants in common. Other times people don't know what they are doing and will do it thinking they are protecting themselves somehow.
It is possible to just assign a beneficial interest in a trust. If you are doing that to avoid the due on sale clause in a mortgage, that is fraud and there are cases where the mortgage company has gone after folks for doing that.
Great explanation! I do have a quick question for you, I have a property under contract which gives me equitable rights to the property. I have an investor that is willing to pay me for my interest in the property but he wants to do a quit claim deed. In this case, would I be able to do a quit claim deed with the seller for a lower amount and then do another quit claim deed to the investor in the same day?
Thank you sir , your video is very informative. ,My husband bought a house in New York before our marriage it is our primary residence now , My husband wants to add my name on the deed can you please provide info on how can we proceed ?.
If shortly after closing, and receipt of the warranty deed, my wife did not want to be on the warranty deed so we/she quitclaimed it to just me. I am in a community property state, does she still need to sign the quitclaim deed if I am transferring into a private revocable living trust, of which I am the sole grantor/trustee of?
It would be best to have her sign the quit claim deed too, just in case as the community property spouse she is deemed to still have rights to the property.
can u answer a question? I purchased a townhome with an external garage 6 months ago. but I found out later I never got the deed to the external garage. but neither did the 2 owners before me. what appears to have happened, is the developer never transferred the title over to the first owner of the townhome (and so the second and third owners never got the deed either). however, 13 years later (about 4 months ago) the developer sold all the external garages to a storage rental company (LLC). the LLC bought all the external garages from the developer. so I was told by the LLC, get out....this is my garage. and when I check the county parcel records, sure enough the LLC did own the garage I thought was mine. now I get a call 2 weeks ago from a developer representative saying they will give me 10K to sign a QUIT CLAIM DEED on the garage. but the garage is probably worth twice that. QUESTION. does this external garage most likely have a CLOUD ON THE TITLE? also, is there anyway for the LLC to remove the cloud from this title without me signing the quick claim deed? I am bargaining with the developer to get the garage back (of course they would need to buy it back from the LLC and give it to me). so I would like to know how powerful of a position I am in when bargaining with them. my real estate agent tells me with the cloud on the title I am part owner of the garage even though the LLC has the title to it because they can't really do anything with it (like sell it or even rent it out).
I am not sure I understand all the angles of this deal, but there is obviously a cloud on the title and you are the cloud for some reason. I can’t advise you on anything here, because it would take a lot more understanding than I have. Your title insurance or title lawyer may have some responsibility here, if they knew you thought you were getting the garage. Sounds like a mess to me.
Some questions I have: 1) If a divorced couple who both have their names on the title do a quitclaim to remove the wife from the title, then is the grantor both the husband and wife, and who is the grantee. 2) Does the leaving spouse use the words 'quitclaim all my interests" or "quitclaim 100% of my interests"? 3) If the leaving spouse is not expecting to get paid, then does there have to be some monetary consideration in order to make the deed executable?
1) The wife would be the grantor and the husband would be the grantee. She is the only one who would have to sign the quit claim deed. 2) I don’t know. ask a title company locally. 3) In theory yes. Just put in the language for ten dollars and other good and valuable consideration. Actually, give the ten dollars though. Write a check from your account.
I have questions as I am composing a NH quitclaim deed on behalf of my family's irrevocable trust, proceeds to be divided equally between four siblings, two being trustees and two legatees, all of whose names and addresses I have included in the transfer description. The real estate described therein is being sold. 1. Do I have to include and obtain the signatures of the legatees in addition to the trustee signatures, witnessed and notarized? 2. Since this is a non-contractual transaction that is exempt from tax, do I have to include the dollar amount being paid for the property? Probate free. 3. The current deed lists Parcel I and Parcel II under "Schedule A" as the final pages of the deed "after" the notarized signature page. Is it advisable to keep the new deed in that format, separating the description of the property/parcels being deeded as "Schedule A" for continuity?
I don’t understand the questions fully. Normally, deeds need the same format and description as the prior deed. If you are deeding it into the trust then just name, date and trustee are put on the deed. The trust beneficiaries are never listed on the deed. If you are moving it from the trust to the beneficiaries you would make out a fractional deed to give each named beneficiary his or her share. There would be a deed for each beneficiary.
Thanks, very good information, I have a question, I sent the picture of my Great Deed, to the lawyer who is going to prepare my living Trusth, is it ok? I’m concern because he didn’t give me a prove of our conversación that he is going to prepararé my living Trusth and the price we accorded, But my most concern is that if it’s ok that I sent the photo of my Great Deed? Can this affect me or can they do fraud? ( I’m gonna see him again in two weeks )
You can send a picture. It shouldn’t hurt anything, because the deed isn’t secret. You can probably see the deed on the internet at the county recorder’s site.
My step father has property that I’d like to purchase. Can we use a Quit claim deed or would it be best to do something different? I understand that he may sell it to me for any amount that we agree upon. This property would be used as an invest and turned into a rental. Please advise and thank you in advance for any suggestions.
You can use a quit claim deed to make the transfer. Just know that no warranties will come with the property when it is transferred via the quit claim deed. If you use a warranty deed, any warranties that go with the property will come to you from your father-in-law.
There’s a house that my grandma had purchased and is now paid for however she passed away 15 years ago no one lives in the house in NYC it’s just sitting there however my mom and aunt never transferred the deed or the title into anyone’s name and there’s over $15,000 in taxes owed. How do I get them to changed the name out of the deceased persons which is my grandmother name. Please help
You will have to go to a lawyer and get him to do a quiet title action on the property to get the court to make the transfer. You need to get on it or they will sell it for the taxes. I assume in NYC it is worth something.
??? What if the person who owned the property passed. He has his name and his son's name on the deed. The person who passed had other children who passed on. Could a quitclaim be done by the son to give yo someone else with out doing a probate???
Two names on a deed doesn’t mean the surviving person automatically owns the assets after one of the named individuals dies. Tenants in common, for example, doesn’t transfer the dead person’s interest to the survivor. It would have to be held in joint tenants with rights of survivorship to automatically transfer ownership to the survivor. If it is JTWROS then the survivor owns the deceased person’s portion instantly on death. The survivor owns the property at that point and can do whatever he or she wants with it.
My husbands ex wants to get him to sign this quit claim deed to supposedly get him off the loan but my understanding is by him signing this it’s only to give up rights to the home and not take him off the loan is there a way this ex can refinance without him signing that quit claim deed because she swears she can’t refinance if he doesn’t sign it. TIA
That is true. Most divorce decrees say that the ex will get his name off within so many years or something. The name is taken off the deed, and then the court requires the refinance. Without that safety, it would be possible to just get his name off the deed and have her blow off the refinance.
The person transferring property to another party is often asked to warrant in the deed that they have good title, the property doesn’t have right of ways across it, the taxes are paid and lots of things.
What kind of deed do I need, to make sure when my husband passes that I will get the house? My name is not on the deed, I'm his second wife and I live in Florida.
You could use a quit claim deed, but a warranty deed may be better, because warranties could be transferred along with the title. A quit claim deed is ok when you are transferring from you to a living revocable trust, because that is like moving the title from one of your pockets to another. As far as the warranties are concerned, you have transferred the asset to yourself, so the warranties made to you will continue. But from your dad to you, is a third party transfer, and warranties wouldn’t transfer at all if your dad used a quit claim deed. There may not be any warranties that need to be transferred, and a quit claim deed would be fine in that case.
My parents are giving us there house because they can't live on there own any longer . We want to do a quit claim deed and sell the property . There are two hospital lien on on the home can we do the quit deed and pay the liens ?
So once the quit claim deed is recorded after it is signed by both parties, how soon does the granters name get removed from the title so that the title is now put into the grantees name
I would use a warranty deed if there are any possible warranties that might be transferred if a warranty deed was used. The quit claim deed won’t transfer any possible warranties.
I have a question about this, I am a widow, I would like to get a trust and put my free and clear house into it. I have reduced taxes, and I would like to know if that will be a problem for me, since the reduced taxes are associated with my name.
It should not affect your taxes to put the house in a living revocable trust. It is called a disregarded entity, because the government basically disregards a living revocable trust. You need to contact the tax folks in your county and see what needs to be done, because often you have to give the tax folks notice (fill out a form) showing them that you are the trustee, beneficiary, and trustor of the living revocable trust. If you don’t play their game, you could end up with increased taxes, but if you follow their rules I am sure you can put your house in a living revocable trust and not have an increase in taxes.
You could issue another person a warranty deed, then you would be making the warranties. No warranties carried over from the person you got the quit claim deed from.
If you are making out a warranty deed to yourself it won't make any difference because you would have to sue yourself to enforce the warranties. If you want to be covered with a warranty of title, you would have to go buy title insurance.
Why does the grantor's signature on the quitclaim/warranty deed to be identical to the signature on the first deed? You are the only source that mentions this tidbit. Does it invalidate the quitclaim/warranty deed somehow?
Without an identical signature there is a question as to whether or not it is the same person. Technically, the deed should be rejected when chain of title is researched. SO, make sure the names and signatures are all the same. If I signed the first deed Lee Phillips, the second deed should be signed Lee Phillips, not Lee R. Phillips. You get the picture.
I'm I was engaged when we bought our husband only one deed. Now married for 5 years . Want to add me onto the deed. Am I also a grantor and a grantee. Live in Washington state
Washington is a community property state, so the husband wife are one legal unit. I don’t really understand the question, but it wouldn’t hurt on a quit claim deed to have you be grantor and grantee, even if you technically don’t have ownership by deed, you may have an ownership interest do to the community property laws.
If your sister is not on the ownership of the house, it is his house. The divorce court may or may not consider the house as an asset to be divided up in the divorce.
If someone is selling a property using the quit claim deed do I actually get the property or is there a better way to make the transaction to obtain the property in the end?
A quit claim deed transfers whatever ownership the person has in the property. it doesn’t transfer warrienties and other things the person making out the quit claim deed doesn’t “own.”
He can’t change it to his name. Your sister and husband own it. They are the only ones that could transfer it anywhere. Any chance you dad would pay for my house? Ha Ha. He is just gifting them money with each payment.
I recently bought a house. The house is under my name only. But I signed a quitclaim deed when I closed along with my boyfriend. Did I sign my rights to him? Does this mean he "owns" the house too?
You can sell your house to a third party using a quit claim deed. The party might be considered stupid to allow the transfer using a quit claim deed, because the warranties going along with the property would not transfer with the quit claim deed. If I were buying the house I would want a warranty deed. A quit claim deed only transfers the rights you hold to another party. You are simply going to quit claiming any of your rights to the property. That does not include the title policy and other warranty type issues that may be attached to the property under your ownership.
You can just prepare a quit claim or warranty deed from your uncle as grantor to you as the grantee. Obviously, your uncle will need to agree and sign the deed. Technically, for tax purposes your uncle is gifting you his interest in the property. You will have to take his basis in the property (probably the same as your basis) and technically he could owe a gift tax. Under today’s laws, there probably won’t actually be any gift tax owing. It will just lower his unified credit amount.
If you are transferring it to your living revocable trust, the quit claim deed is fine. If you are moving it to your LLC, you would want any warranties to transfer to the LLC, so use a warranty deed. If someone is buying the property from you or you are getting a property from someone else, the buyer or you, if you are getting the property, would want a warranty deed, so you get the benefit of any warranties that might pass along with the property.
I sometimes wonder when did God give the government or the queen the ownership of the land. Joint tenants eh so if the owners are the tenants then who owns it? 🤔
If it was gave to husband and wife in love and affection by the wife's sister and the wife's sister did own the property,.When the husband passed who gets property the wife?or his kids from a previous marriage.?Remember her sister gave it to her and him.,with love and affection.
Well, then the Correct is the Quit Claim Deed is Only for TRUST or LAND TRUST and Warranty Deed is for the LLC or the Soleproprietary sell for any person
Great video. Quit claim deeds can be as good as the character of the writer.
wow!!! thank you!! you explain it sooo well!! very comprehensive. thank you!!!
I wish I could ask you some questions...I believe I am experiencing a lot of corruption. The Quit Claim Deed does NOT give up ownership, only a certain claim to the property. That makes a huge difference already in my circumstance. Thank you.
The quit claim deed transfers only the interest that you have in the property. You “quit claiming” your interest in the property and it is transferred by the quit claim deed.
Lee, i'm reviewing the history for a property on my county's website...why would someone have a QuitClaim Deed FROM and TO themselves ??...for instance..I see a property where the two-family members are listed as both the Grantor and Grantee for a property
There could be various reasons for doing it. Often it is done because the owners want to change from joint tenants to tenants in common. Other times people don't know what they are doing and will do it thinking they are protecting themselves somehow.
Is it possible to just assign the beneficial interest of the trust to the new buyer or beneficiary?
It is possible to just assign a beneficial interest in a trust. If you are doing that to avoid the due on sale clause in a mortgage, that is fraud and there are cases where the mortgage company has gone after folks for doing that.
Great explanation! I do have a quick question for you, I have a property under contract which gives me equitable rights to the property. I have an investor that is willing to pay me for my interest in the property but he wants to do a quit claim deed. In this case, would I be able to do a quit claim deed with the seller for a lower amount and then do another quit claim deed to the investor in the same day?
Don’t do it because you will still be responsible for the mortgage!
Thank you sir , your video is very informative. ,My husband bought a house in New York before our marriage it is our primary residence now , My husband wants to add my name on the deed can you please provide info on how can we proceed ?.
If shortly after closing, and receipt of the warranty deed, my wife did not want to be on the warranty deed so we/she quitclaimed it to just me. I am in a community property state, does she still need to sign the quitclaim deed if I am transferring into a private revocable living trust, of which I am the sole grantor/trustee of?
It would be best to have her sign the quit claim deed too, just in case as the community property spouse she is deemed to still have rights to the property.
can u answer a question? I purchased a townhome with an external garage 6 months ago. but I found out later I never got the deed to the external garage. but neither did the 2 owners before me. what appears to have happened, is the developer never transferred the title over to the first owner of the townhome (and so the second and third owners never got the deed either). however, 13 years later (about 4 months ago) the developer sold all the external garages to a storage rental company (LLC). the LLC bought all the external garages from the developer. so I was told by the LLC, get out....this is my garage. and when I check the county parcel records, sure enough the LLC did own the garage I thought was mine. now I get a call 2 weeks ago from a developer representative saying they will give me 10K to sign a QUIT CLAIM DEED on the garage. but the garage is probably worth twice that. QUESTION. does this external garage most likely have a CLOUD ON THE TITLE? also, is there anyway for the LLC to remove the cloud from this title without me signing the quick claim deed? I am bargaining with the developer to get the garage back (of course they would need to buy it back from the LLC and give it to me). so I would like to know how powerful of a position I am in when bargaining with them. my real estate agent tells me with the cloud on the title I am part owner of the garage even though the LLC has the title to it because they can't really do anything with it (like sell it or even rent it out).
I am not sure I understand all the angles of this deal, but there is obviously a cloud on the title and you are the cloud for some reason. I can’t advise you on anything here, because it would take a lot more understanding than I have. Your title insurance or title lawyer may have some responsibility here, if they knew you thought you were getting the garage. Sounds like a mess to me.
thanks for the response. how does a cloud typically get on a title?
I have a quitclaim deed . I would like to transfer into my name , where do I need to go .
Notary
Some questions I have: 1) If a divorced couple who both have their names on the title do a quitclaim to remove the wife from the title, then is the grantor both the husband and wife, and who is the grantee. 2) Does the leaving spouse use the words 'quitclaim all my interests" or "quitclaim 100% of my interests"? 3) If the leaving spouse is not expecting to get paid, then does there have to be some monetary consideration in order to make the deed executable?
1) The wife would be the grantor and the husband would be the grantee. She is the only one who would have to sign the quit claim deed.
2) I don’t know. ask a title company locally.
3) In theory yes. Just put in the language for ten dollars and other good and valuable consideration. Actually, give the ten dollars though. Write a check from your account.
@@Legaleescorp thank you. Very helpful
I have questions as I am composing a NH quitclaim deed on behalf of my family's irrevocable trust, proceeds to be divided equally between four siblings, two being trustees and two legatees, all of whose names and addresses I have included in the transfer description. The real estate described therein is being sold.
1. Do I have to include and obtain the signatures of the legatees in addition to the trustee signatures, witnessed and notarized?
2. Since this is a non-contractual transaction that is exempt from tax, do I have to include the dollar amount being paid for the property? Probate free.
3. The current deed lists Parcel I and Parcel II under "Schedule A" as the final pages of the deed "after" the notarized signature page. Is it advisable to keep the new deed in that format, separating the description of the property/parcels being deeded as "Schedule A" for continuity?
I don’t understand the questions fully. Normally, deeds need the same format and description as the prior deed. If you are deeding it into the trust then just name, date and trustee are put on the deed. The trust beneficiaries are never listed on the deed. If you are moving it from the trust to the beneficiaries you would make out a fractional deed to give each named beneficiary his or her share. There would be a deed for each beneficiary.
Thanks, very good information,
I have a question, I sent the picture of my Great Deed, to the lawyer who is going to prepare my living Trusth, is it ok? I’m concern because he didn’t give me a prove of our conversación that he is going to prepararé my living Trusth and the price we accorded, But my most concern is that if it’s ok that I sent the photo of my Great Deed? Can this affect me or can they do fraud?
( I’m gonna see him again in two weeks )
You can send a picture. It shouldn’t hurt anything, because the deed isn’t secret. You can probably see the deed on the internet at the county recorder’s site.
@@Legaleescorp thanks for the information, I appreciate it
Outstanding job as usual!
Thank you!
My step father has property that I’d like to purchase. Can we use a Quit claim deed or would it be best to do something different? I understand that he may sell it to me for any amount that we agree upon. This property would be used as an invest and turned into a rental. Please advise and thank you in advance for any suggestions.
You can use a quit claim deed to make the transfer. Just know that no warranties will come with the property when it is transferred via the quit claim deed. If you use a warranty deed, any warranties that go with the property will come to you from your father-in-law.
There’s a house that my grandma had purchased and is now paid for however she passed away 15 years ago no one lives in the house in NYC it’s just sitting there however my mom and aunt never transferred the deed or the title into anyone’s name and there’s over $15,000 in taxes owed. How do I get them to changed the name out of the deceased persons which is my grandmother name. Please help
You will have to go to a lawyer and get him to do a quiet title action on the property to get the court to make the transfer. You need to get on it or they will sell it for the taxes. I assume in NYC it is worth something.
??? What if the person who owned the property passed. He has his name and his son's name on the deed. The person who passed had other children who passed on. Could a quitclaim be done by the son to give yo someone else with out doing a probate???
Two names on a deed doesn’t mean the surviving person automatically owns the assets after one of the named individuals dies. Tenants in common, for example, doesn’t transfer the dead person’s interest to the survivor. It would have to be held in joint tenants with rights of survivorship to automatically transfer ownership to the survivor. If it is JTWROS then the survivor owns the deceased person’s portion instantly on death. The survivor owns the property at that point and can do whatever he or she wants with it.
Can I be a witness on the deed if I'm executor and grantee/heir?
Witnesses should be independent people without any interest in the matter.
My husbands ex wants to get him to sign this quit claim deed to supposedly get him off the loan but my understanding is by him signing this it’s only to give up rights to the home and not take him off the loan is there a way this ex can refinance without him signing that quit claim deed because she swears she can’t refinance if he doesn’t sign it. TIA
That is true. Most divorce decrees say that the ex will get his name off within so many years or something. The name is taken off the deed, and then the court requires the refinance. Without that safety, it would be possible to just get his name off the deed and have her blow off the refinance.
I see you tell people about warranties, what are you referring to by warranties?
The person transferring property to another party is often asked to warrant in the deed that they have good title, the property doesn’t have right of ways across it, the taxes are paid and lots of things.
What kind of deed do I need, to make sure when my husband passes that I will get the house? My name is not on the deed, I'm his second wife and I live in Florida.
Maybe he doesn't want you to get the house...
@@Legaleescorp Prenup Deed >
Can this be use if my mom passed away and named me executor and the only heir leaving her house to me.
It has to be signed by your mother. If you can get it signed by her, OK. 😊 Otherwise, it will have to go through probate in all likelihood.
@@Legaleescorp
Thank you
Can we do a quit claim deed . For example my dad wants to transfer a land to me
You could use a quit claim deed, but a warranty deed may be better, because warranties could be transferred along with the title. A quit claim deed is ok when you are transferring from you to a living revocable trust, because that is like moving the title from one of your pockets to another. As far as the warranties are concerned, you have transferred the asset to yourself, so the warranties made to you will continue. But from your dad to you, is a third party transfer, and warranties wouldn’t transfer at all if your dad used a quit claim deed. There may not be any warranties that need to be transferred, and a quit claim deed would be fine in that case.
My parents are giving us there house because they can't live on there own any longer . We want to do a quit claim deed and sell the property . There are two hospital lien on on the home can we do the quit deed and pay the liens ?
in california the warranty deed is just called grant deed?
Yes a grant deed and warranty deed are the same thing in Californian language.
So once the quit claim deed is recorded after it is signed by both parties, how soon does the granters name get removed from the title so that the title is now put into the grantees name
Hello ppl, I have acquestion. What if you are transferring the deed between friends. Quit claim or warranty
I would use a warranty deed if there are any possible warranties that might be transferred if a warranty deed was used. The quit claim deed won’t transfer any possible warranties.
@@Legaleescorp warranties like what, I'm curious about the process and want to understand it all.
I have a question about this, I am a widow, I would like to get a trust and put my free and clear house into it. I have reduced taxes, and I would like to know if that will be a problem for me, since the reduced taxes are associated with my name.
It should not affect your taxes to put the house in a living revocable trust. It is called a disregarded entity, because the government basically disregards a living revocable trust. You need to contact the tax folks in your county and see what needs to be done, because often you have to give the tax folks notice (fill out a form) showing them that you are the trustee, beneficiary, and trustor of the living revocable trust. If you don’t play their game, you could end up with increased taxes, but if you follow their rules I am sure you can put your house in a living revocable trust and not have an increase in taxes.
What are the tax consequences to both parties.
I have a question if you buy a property on a quit claim deed can i change that over to a warrenty deed..
You could issue another person a warranty deed, then you would be making the warranties. No warranties carried over from the person you got the quit claim deed from.
If you are making out a warranty deed to yourself it won't make any difference because you would have to sue yourself to enforce the warranties. If you want to be covered with a warranty of title, you would have to go buy title insurance.
So I can't quit claim my property to my llc? I was just about to do just that. Then, how do I warranty deed it to my llc?
The living revocable trust doesn’t give you any asset protection. The assets in the trust are treated as yours and can be taken away from you.
Why does the grantor's signature on the quitclaim/warranty deed to be identical to the signature on the first deed? You are the only source that mentions this tidbit. Does it invalidate the quitclaim/warranty deed somehow?
Without an identical signature there is a question as to whether or not it is the same person. Technically, the deed should be rejected when chain of title is researched. SO, make sure the names and signatures are all the same. If I signed the first deed Lee Phillips, the second deed should be signed Lee Phillips, not Lee R. Phillips. You get the picture.
I'm I was engaged when we bought our husband only one deed. Now married for 5 years . Want to add me onto the deed. Am I also a grantor and a grantee. Live in Washington state
Washington is a community property state, so the husband wife are one legal unit. I don’t really understand the question, but it wouldn’t hurt on a quit claim deed to have you be grantor and grantee, even if you technically don’t have ownership by deed, you may have an ownership interest do to the community property laws.
My sister her husband he want divorce but his house don’t have her name so what we can do and the bank too
If your sister is not on the ownership of the house, it is his house. The divorce court may or may not consider the house as an asset to be divided up in the divorce.
If someone is selling a property using the quit claim deed do I actually get the property or is there a better way to make the transaction to obtain the property in the end?
A quit claim deed transfers whatever ownership the person has in the property. it doesn’t transfer warrienties and other things the person making out the quit claim deed doesn’t “own.”
@@Legaleescorp is there anything documented that shows ownership amount or percentages.
My dads is paying for a house but it’s under my brothers in-law and sister name how can my dad change it to his name
He can’t change it to his name. Your sister and husband own it. They are the only ones that could transfer it anywhere. Any chance you dad would pay for my house? Ha Ha. He is just gifting them money with each payment.
I recently bought a house. The house is under my name only. But I signed a quitclaim deed when I closed along with my boyfriend. Did I sign my rights to him? Does this mean he "owns" the house too?
Yes he owns the house
Thank u thank u good xplain
Can i sell my home using a quit claim deed to a individual
You can sell your house to a third party using a quit claim deed. The party might be considered stupid to allow the transfer using a quit claim deed, because the warranties going along with the property would not transfer with the quit claim deed. If I were buying the house I would want a warranty deed. A quit claim deed only transfers the rights you hold to another party. You are simply going to quit claiming any of your rights to the property. That does not include the title policy and other warranty type issues that may be attached to the property under your ownership.
I purchased a house with my name and uncle name on it. Now I want to take my uncle name off the deed. How do I go about doing this?
You can just prepare a quit claim or warranty deed from your uncle as grantor to you as the grantee. Obviously, your uncle will need to agree and sign the deed. Technically, for tax purposes your uncle is gifting you his interest in the property. You will have to take his basis in the property (probably the same as your basis) and technically he could owe a gift tax. Under today’s laws, there probably won’t actually be any gift tax owing. It will just lower his unified credit amount.
@@Legaleescorp Do I have to do preliminary change of ownership also?
Excellent example of a Quit Claim deed wrt the White House.
If the owner owns the property 100% would a quit claim deed be best?
If you are transferring it to your living revocable trust, the quit claim deed is fine. If you are moving it to your LLC, you would want any warranties to transfer to the LLC, so use a warranty deed. If someone is buying the property from you or you are getting a property from someone else, the buyer or you, if you are getting the property, would want a warranty deed, so you get the benefit of any warranties that might pass along with the property.
Thanks for the response
Are u from Arkansas?
Utah
Thanks
I had this happen to me
I sometimes wonder when did God give the government or the queen the ownership of the land. Joint tenants eh so if the owners are the tenants then who owns it? 🤔
Yes part of the mysteries of the universe.
If it was gave to husband and wife in love and affection by the wife's sister and the wife's sister did own the property,.When the husband passed who gets property the wife?or his kids from a previous marriage.?Remember her sister gave it to her and him.,with love and affection.
So it’s pointless
Well, then the Correct is the Quit Claim Deed is Only for TRUST or LAND TRUST and Warranty Deed is for the LLC or the Soleproprietary sell for any person
That’s correct