Can I Quitclaim My Half Interest in a Land Contract to My Buyer Partner?

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.

Many Land Contracts detail within the document what actions may be taken to end or modify the contract by the parties.

If one person wishes to remove himself as a partner/buyer from a Land Contract, all parties to the existing contract should consider renegotiating the entire document.

To easily create such a new document, see Standard Legal’s Land Contract legal forms software.

For advice specific to real estate deals that involve multiple parties and complex questions, Standard Legal recommends you consult a qualified, licensed attorney to ensure you know all options available; you can find a local attorney for FREE at Standard Legal’s Attorney Find page.