The vast majority of states have no firm set time period or “grace period” for requiring the tender of a Deed for real property upon the completion of payments on a private mortage. [ Read More... →]
Quitclaim and Warranty Deed Questions
Is There a Set Time Limit in Which an Executed Deed Must Be Provided After the Completion of Payments on a Land Contract?
So long as the contract is properly written, a provision providing that the buyer will sign a Deed to avoid having the seller go through a foreclosure process to reclaim title to the property would be enforceable. [ Read More... →]
Such language indicates that the grantor is married and, as such, his spouse may have certain dower rights in the property. [ Read More... →]
Title insurance will cover only those issues specifically set forth in the title insurance policy. Most policies have a significant number of exceptions to coverage, so there is no standard answer to this inquiry. You must read the policy in question.
Quitclaim and Warranty Deed Questions · August 22nd, 2012
Can a Property Listed in a Living Trust Be Quitclaimed to a Third Party Without Being Removed from the Trust?
If a property has been properly transferred to the Trust (i.e. the Trust has been properly funded and a Quitclaim Deed has been filed using the Trust name), then only the Trustee can transfer the property “back out of” the Trust and to a third party.
The Trust document must also authorize or empower the Trustee to take such action (or grant the Trustee the discretion to transfer the property). [ Read More... →]
Whether or not a spouse can Quitclaim marital property to a third party depends upon how the property is currently titled among the owners. [ Read More... →]
Quitclaim and Warranty Deed Questions · June 8th, 2012
Minor children can take title to real estate via Quitclaim and can be named as shareholders in a corporation.
But there are issues and limitations surrounding the future capabilities of each of these actions. [ Read More... →]
In most cases, a valid and signed Quitclaim Deed transferring property to a person other than the decedent “trumps” or supersedes the provisions of the decedent’s Last Will and Testament. [ Read More... →]
If I Have Power of Attorney for My Parent, Can I Transfer the Family Home to Myself and My Siblings?
Most “general” Power of Attorney documents have a specific provision about transferring property contained within them, granting the attorney-in-fact the ability to undertake such a property transfer process.
But if the language about being able to transfer property is not stated specifically in the document (and different POAs are drafted differently), then the attorney-in-fact most likely lacks the authority to transfer property. [ Read More... →]
Typically, a divorcing couple filing for No-Fault Divorce has two options in regard to jointly held real estate: [ Read More... →]
A deed can certainly be prepared and filed with the proper county government agency, transferring property from one person to another (or to a business entity).
But it is not typical for a piece of real estate property to be transferred to a grantee (in this case, the mortgage holder of the property who has not foreclosed and won’t return the investor’s phone calls) without that person or entity’s consent. [ Read More... →]
Quitclaim and Warranty Deed Questions · March 14th, 2012
If it was a standard Quitclaim Deed that was properly signed and recorded, transfer of ownership to you and your brother has occurred.
But if the deed was not a standard Quitclaim, the matter of outright ownership is not so clear. [ Read More... →]
Quitclaim and Warranty Deed Questions · February 23rd, 2012
In most states and when the family structure is relatively straight-forward, the handling of family property after the death of just one spouse is fairly consistent. [ Read More... →]
A co-owner to a real property can transfer his or her interest in that property to a third party using a Quitclaim Deed. But be advised that such a step does not remove the original owner from all responsibility. [ Read More... →]
In most cases concerning Land Contracts, title to real property does not pass to the purchaser until all or a certain percentage of the land contract installment payments are made.
Until such time, the purchaser (or a partner-purchaser) does not hold any title or ownership in the property.
As such, if the purchaser does not hold ownership, he/she has no ownership interest in the property that can be transferred by way of a Quitclaim Deed. In essence, a drafted Quitclaim Deed would be meaningless because a person cannot “transfer ownership” of something he or she does not own.
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Under certain conditions, a Deed that was signed by the parties to transfer property several years in the past can still be valid. [ Read More... →]
Quitclaim and Warranty Deed Questions · February 13th, 2012
Can a Wife Quitclaim Property from the Married Couples’ Names Back to Her Maiden Name to Protect the Asset?
A currently-married woman cannot transfer property to her maiden name (which is no longer being used) simply to avoid losing the property to a judgment in a current or potentially upcoming litigation. [ Read More... →]
Generally, the phrase ‘deed in lieu of foreclosure’ explains the process more so than any actual deed itself. [ Read More... →]
Standard Legal’s Survivorship Deed (using either the Quitclaim or Warranty versions) must be modified slightly to reflect the change from Joint Tenants to Tenants by Entirety. [ Read More... →]
Quitclaim and Warranty Deed Questions · January 9th, 2012
How Can I Complete Transfer if Property Was Granted to Me in Divorce But My Spouse Won’t Sign the Quitclaim Deed?
If a party is refusing to execute a Deed to transfer property pursuant to a court order to do so, then the party to whom the property is to be transferred has the right or option to seek the court’s assistance in compelling such transfer. [ Read More... →]