Quitclaim Deed Archives - Page 3 of 3

May 13, 2014April 25, 2024

Quitclaim Deeds after Divorce or Dissolution: Navigating the Property Transfer

Quitclaim deeds serve as a versatile tool in real estate transactions, transferring a current owner’s interest, if any, to a new owner. Such transfers might or might not involve consideration—often monetary value. These deeds are particularly useful for clarifying ambiguous titles, resolving boundary disputes, or gifting property, yet they do not guarantee the title’s validity to the recipient.

In the context of a divorce or dissolution, quitclaim deeds take on a specialized role. Property division in these instances is typically overseen by a judge, who may order one party to relinquish their rights in jointly-owned real estate to their former partner. When quitclaim deeds are used in divorce proceedings, they often necessitate extra details. Many jurisdictions, for example, require an explicit reference to the divorce within the document, including the docket or civil action number, along with the recording specifics of the related legal judgment.

March 12, 2014April 25, 2024

Quitclaim Deeds and Continuation of Title Insurance

Provided by Matthew A. Quick, Esq., an attorney licensed in the state of Illinois.

Title insurance coverage is dictated by the terms of the policy issued by the title insurance company. In most, if not all, policies for title insurance there is a provision for “Continuation of Coverage” or “Continuation of Insurance.” Typically, this provision provides that the insurance will continue only so long as the insured holds an interest in the land or has liability by reason of warranties given in any transfer of the title.

October 14, 2013April 25, 2024

An Unrecorded Quitclaim Deed Can Still Be Valid

An unrecorded quitclaim deed is still valid. While there is no time limit on recording a deed or recording required for a quitclaim deed to be valid, record all deeds as soon after the transaction as possible. Failure to record a deed could render transfer or mortgaging of the property impossible and create numerous legal difficulties.

September 6, 2013April 25, 2024

Using a Quitclaim Deed in Missouri to Create a Joint Estate

In Missouri, the creation of a joint estate in real property can be facilitated through the use of a quitclaim deed, as outlined in Section 442.025 of the Missouri state law. This legal instrument is often employed for its simplicity and efficiency in transferring ownership interests without warranty.

October 26, 2012April 25, 2024

Adding a Person to a Deed Using a Quitclaim Deed

One of the most common incorrect assumptions in real estate is that someone can be added to a deed. If one person owns a piece of real estate and wants to bring on another owner, this means that the current owner would give up their interest in the property to themselves and the other person. Both people would acquire their interest in the property at the same time in the chain of title. The chain of title in real estate has been established so that an interest in real estate cannot be valued by the amount of time an owner has been in possession of the real estate.