Real Estate Deeds Made Easy Since 1997
In a recent update from the Highlands County Board of County Commissioners, a new ordinance (No. 22-23-23) has been established that directly impacts real estate transactions within Highlands County, Florida. This article aims to provide an informative overview of this ordinance, its requirements, and its implications for property transfers in the area.
Continue reading “Florida’s Highlands County Introduces New Ordinance for Real Estate Transactions with Roadway Verification Requirement”
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?
Continue reading “I Deeded My Property to Someone Else. Can I Revoke My Gift?”
We’re glad you asked. You might have heard that a living trust can…
All of the above are reasons many people use this method of passing their property along after they die. And a home is a typical piece of property that people put into a living trust.
Importantly, a living trust is a revocable trust — it’s a trust you control during your life, and can change. Curious as to how it works? Here, we outline the basics of using a living trust to pass a lifetime home along to its future owner(s).
Continue reading “Can I Quitclaim My House Into a Living Trust?”
When is a quitclaim a good way to transfer a whole or partial interest in a home? In a simple transaction among familiar parties. Especially where no money changes hands. No wonder quitclaim deeds are often used between spouses.
Here, we take a look at a variety of ways quitclaims can convey property between partners in marriage.
Continue reading “Marriage and the Quitclaim Deed”
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:
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.
Continue reading “Using a Quitclaim Deed: Top 5 Reasons”
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?
Continue reading “Is a Quitclaim Deed Subject to Tax?”
A Quitclaim? No problem. It’s Common Practice Here — and Safeguarding Your Title Is Straightforward.
Three major Massachusetts real estate deeds are commonly used: the quitclaim deed, the warranty deed, and the release deed. In contrast to most other places, Massachusetts home buyers receive their property through quitclaim deeds. So, we need to delve into the use of the quitclaim deed in Massachusetts.
Continue reading “Buying Property with a Quitclaim Deed in Massachusetts”
Are you looking to buy a home though a bargain and sale deed? Perhaps you’re buying after a foreclosure, or from an estate or a court-ordered sale. If so, the entity granting the deed to you might lack knowledge of the property’s history. Basically, the deed means a buyer is expected to accept the house as-is.
How does this differ from a quitclaim deed? What rights and protections does the bargain and sale deed give you, the new owner? Let’s take a look.
Continue reading “Bargain and Sale vs. Quitclaim Deeds: A Concise Guide”
The quitclaim is famous for being the simplest way to give up an interest in real estate. Unlike a warranty deed, the quitclaim grants whatever interest a person has to the other person, but offers no assurances that the title is clear.
Once a quitclaim is signed and recorded, can the deed be challenged in court? Yes, it can. Recording your deed only provides notice of your ownership claim to the public. It does not guarantee ownership.
Because quitclaims make no guarantees about the property’s title or condition, a court that hears a challenge to your deed will simply be examining the quitclaim to find out if the transfer was legally correct. So, if you received an interest through a quitclaim deed, you’ll want to be able to show that the grantor properly conveyed the deed to you. In this article, we take a look at why you might hold a quitclaim deed in the first place, and how to hold onto your property if that deed is challenged.
Continue reading “Defending a Quitclaim Deed”
A quitclaim deed conveys—”quits”—a person’s interest in a property to someone else. Quitclaims prove useful in certain transfers of properties among family members or between divorcing spouses. The quitclaim allows separating partners to follow a court’s direction and leave one party as sole owner of the marital home. Quitclaims might seem convenient in other circumstances, but they are rarely the best choice.
In contrast to the warranty deed, a quitclaim deed offers no assurances of clear title. In most jurisdictions a recorder of deeds must simply record a quitclaim deed; it is not the recorder’s role to investigate the circumstances of the conveyance.
Scammers may take advantage of the quitclaim’s simplicity to siphon equity from vulnerable people. After recording a quitclaim, a bad actor may sell the property with no guarantees, rent it under false pretenses, or exploit its underlying value as collateral.