Quit-Claim Question
i'm just wondering what exactly a quit claim was i'm. looking into getting a property from under this guy that has a quit claim against him and i don't have a clue as to the defenition of what a "Quit Claim" is.
i'm just wondering what exactly a quit claim was i'm. looking into getting a property from under this guy that has a quit claim against him and i don't have a clue as to the defenition of what a "Quit Claim" is.
A Quit Claim Deed transfers whatever interest the person has in the property, warts (liens, mortgages, multiple interests, tax bills, etc.) and all. There's a guy on this site who has a standing offer to sell anyone a QCD for the Golden Gate Bridge. I'd be happy to offer the same.
Buying via only a QCD is generally asking for trouble, or at the very least can present problems. If the owner has valid title, s/he should be able to provide a Warranty Deed, one that comes up clean under a title opinion.
ahh thanks that helps a bunch and has saved me a great deal of time.