Quit Claim Deed
A quit claim deed allows the owner to sign over all ownership and financial interests in a property. For example, Sam can quit claim his interest in the Brooklyn Bridge to Ilyce. If he doesn’t actually own the Brooklyn Bridge, the quit claim would be worthless.
But if Ilyce quit claims her interest in her home to Sam, and she actually owns the property, then the quit claim deed would have value, and Sam would own the property. Once Sam owns the property, he can do with it what he wants. That’s why you have to take extreme care before executing a quit claim deed. A quit claim deed transfers any interest you may have in a property to someone else with no guarantee that there are no other claims against the property.
We have dozens of articles on quit claim deeds. Look below for our “Quit Claim Deed Articles” (bottom left column of this page) and our title insurance videos below (“Related”). Buy a Quit Claim Deed form from the ThinkGlink.com Store. (Click on Store tab above).
Posted on April 13th, 2013 by
Ilyce Glink and Samuel Tamkin
Quit claim deedA Quit Claim DeedA Quit Claim Deed is a deed that operates to release any interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. in a property that a person may have, without a representation that he or she actually has a right in that property. For example, Sally may use a quit claim deed to grant Bill her interest in the White House, in Washington, DC, although she may not actually own, or have any rights to, that particular house. is a deed that operates to release any interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loanA Loan is an amount of money that is lent to a borrower, who agrees to repay it plus interest. charged annually …
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Posted on April 5th, 2013 by
Ilyce Glink and Samuel Tamkin
Quit claim deedA Quit Claim DeedA Quit Claim Deed is a deed that operates to release any interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. in a property that a person may have, without a representation that he or she actually has a right in that property. For example, Sally may use a quit claim deed to grant Bill her interest in the White House, in Washington, DC, although she may not actually own, or have any rights to, that particular house. is a deed that operates to release any interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loanA Loan is an amount of money that is lent to a borrower, who agrees to repay it plus interest. charged annually …
Continue reading
Posted on March 23rd, 2013 by
Ilyce Glink and Samuel Tamkin
Transfer on death deed versus a quit claim deedA Quit Claim DeedA Quit Claim Deed is a deed that operates to release any interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. in a property that a person may have, without a representation that he or she actually has a right in that property. For example, Sally may use a quit claim deed to grant Bill her interest in the White House, in Washington, DC, although she may not actually own, or have any rights to, that particular house. is a deed that operates to release any interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage …
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Posted on February 16th, 2013 by
Ilyce Glink and Samuel Tamkin
Getting a quitclaim deed after divorce is necessary to remove a spouse’s name from the property titleTitle refers to the ownershipOwnership is the absolute right to use, enjoy, and dispose of property. You own it! of a particular piece of …
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Posted on January 10th, 2013 by
Ilyce Glink and Samuel Tamkin
A quitclaim deed conveying the titleTitle refers to the ownershipOwnership is the absolute right to use, enjoy, and dispose of property. You own it! of a particular piece of property. of a home to a living trust can result in …
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Posted on December 17th, 2012 by
Ilyce Glink and Samuel Tamkin
If you are trying to refinance by using a quit claim deedA Quit Claim DeedA Quit Claim Deed is a deed that operates to release any interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. in a property that a person may have, without a representation that he or she actually has a right in that property. For example, Sally may use a quit claim deed to grant Bill her interest in the White House, in Washington, DC, although she may not actually own, or have any rights to, that particular house. is a deed that operates to release any interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it …
Continue reading
Posted on November 9th, 2012 by
Ilyce Glink and Samuel Tamkin
When getting a divorce and signing a quitclaim, it is crucial to remember your home mortgageA MortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose on the home. is a document granting a lienA Lien is an encumbrance against the property, which may be voluntary or involuntary. There are many different kinds of liens, including a tax lien (for unpaid federal, state, or real estate taxes), a judgment lien (for monetary judgments by a court of law), a mortgage lien (when you take out a mortgage), and a mechanic's lien (for work done by a contractor on the property that has not been paid for). For a lien to be attached to the property's title, it must usually be filed or recorded with a local county government office. on a home in exchange for financing granted by a lenderA Lender is a person, company, corporation, or entity that lends money for the purchase of real estate.. The mortgage is the means by …
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Posted on October 12th, 2012 by
Ilyce Glink and Samuel Tamkin
If you are living in a home purchased by a family member, but are making the mortgageA MortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose on the home. is a document granting a lienA Lien is an encumbrance against the property, which may be voluntary or involuntary. There are many different kinds of liens, including a tax lien (for unpaid federal, state, or real estate taxes), a judgment lien (for monetary judgments by a court of law), a mortgage lien (when you take out a mortgage), and a mechanic's lien (for work done by a contractor on the property that has not been paid for). For a lien to be attached to the property's title, it must usually be filed or recorded with a local county government office. on a home in exchange for financing granted by a lenderA Lender is a person, company, corporation, or entity that lends money for the purchase of real estate.. The mortgage is the means …
Continue reading
Posted on October 5th, 2012 by
Ilyce Glink and Samuel Tamkin
How to transfer home ownershipOwnership is the absolute right to use, enjoy, and dispose of property. You own it! to a family member. Before transferring home ownershipOwnership is the absolute right to use, enjoy, and dispose of property. You own it! to a family member, talk with an estate planner and real estateReal Estate is …
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Posted on October 5th, 2012 by
Ilyce Glink and Samuel Tamkin
Transfer property with LLC using a quitclaim deed. A property transfer with an LLC is not always the best solution for transferring inherited property. Property transfers with LLCs are better-suited for estate planning and would cause problems for most mortgageA …
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