Legal Advice Archives

January 17, 2024April 26, 2024

You Can Quitclaim Your Home to a Loved One to Skip Probate Costs. Is It Worth It?

A quitclaim deed easily, quickly transfers your home’s title. You can use a quitclaim to give a home to someone else, with no expectation of a payment from the recipient. Some people use quitclaims to pass homes to their family members.

So, is this a good way to carry out your wishes yourself — a sort of early estate planning? Who needs their home going under a probate court’s supervision after they die, right? And who wants to pay huge fees to the county for the trouble?

Fair questions. But…

September 20, 2023April 25, 2024

I Deeded My Property to Someone Else. Can I Revoke My Gift?

Giver’s regret isn’t unusual. A desire to void the gift of a home after transferring the deed could happen for various reasons. Perhaps you recovered from a serious illness and could really use that home after all. Or maybe your tax expert told you that letting someone wait to inherit your home would be better for the beneficiary, or for you. Perhaps you just don’t like the way your recipient is behaving, and now feel you made a mistake by giving your home away to an irresponsible person.

And now you need answers. Can you take back the deed that you transferred?

August 25, 2023April 25, 2024

Trees, Smoking, and Other Neighbor Troubles: What’s a Homeowner to Do?

They say good fences make good neighbors. Perhaps we could add shrubs or trees, too. Fences and trees can helpfully separate one residential property from the next. Their presence can make boundaries obvious and clear-cut.

Then again, their helpfulness depends on how homeowners personally experience them. Hedges or fencing can be poorly placed, making property lines questionable. And they occasionally raise questions about who is responsible for what maintenance, and when.

And these are not the only features that create boundary issues for homeowners. Plus, boundaries don’t stop air quality issues caused by your neighbor’s habits.

Let’s take a look at some frequently cited causes of…neighbor troubles.

September 5, 2022April 25, 2024

Can a Quitclaim Deed Be Undone?

A quitclaim deed transfers real estate to a new owner. A properly completed and recorded quitclaim cannot be undone. Here’s why — and what to do next if there’s a problem with the transfer.

May 13, 2022April 25, 2024

Divorce, Property Division, and the Quitclaim Deed

Parting of the Ways

Co-ownership of a house can unwind in several ways. One way is through divorce proceedings. You might be wondering how this works, and what kind of decisions have to be made.

You might have questions about passing the home to your ex using a quitclaim deed. Here are some of the key issues that arise, and what steps need to be taken in each case.

March 17, 2021April 25, 2024

Using a Quitclaim Deed: Top 5 Reasons

Are you considering using a quitclaim deed? It’s a fast, simple, and reasonable way to transfer home ownership. It’s a good choice in certain situations. What are those certain situations?

In contrast to warranty deeds, which are most often used in regular home sales, a quitclaim would more likely be used:

Among family members. In this case, when the parties know the history of the property and no title insurance policy is issued, quitclaiming can be done either with or without expert help.

In a divorce. A decree stating that one ex-spouse will keep the home doesn’t actually transfer a home. Yet transferring ownership to an ex is easily done by quitclaim.

To clear up confusion about ownership, including name changes. Quitclaiming to clarify ownership can be achieved without expert help, but it’s often requested by a title insurer.

In a sale of a bank-owned house. If it will be the buyer’s responsibility to make the title good, a quitclaim can be used in an REO auction.

To place a home into an LLC. Some investor owners decide to transfer properties into an LLC. A quitclaim deed is one way to do this.

Quitclaiming is a simple, because it can transfer ownership of real estate without the need to examine current ownership or the chain of title. Historically, the quitclaim has long been the go-to method of transferring property while avoiding bureaucracy.

In that spirit, without further ado, here’s more on five top reasons homeowners decide to use quitclaim deeds.

December 23, 2020April 26, 2024

Is a Quitclaim Deed Subject to Tax?

Quitclaims are sometimes used to transfer property interests from one family member to another, or between divorcing spouses. Parents might wonder if they should use quitclaims to pass property to children to avoid the probate process. It’s easy enough to do. The homeowner signs the document with a notary, takes it to the county recorder of deeds, and has it recorded. Simple. No wonder adding someone to a deed or relinquishing rights through a quitclaim is often (mistakenly) called a “quick claim” deed. But what does the Internal Revenue Service think?

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.