Tag: Property Transfer
-
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: Quitclaiming is a simple,…
-
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…
-
Buying Property with a Quitclaim Deed in Massachusetts
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…
-
Bargain and Sale vs. Quitclaim Deeds: A Concise Guide
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…
-
Defending a Quitclaim Deed
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…
-
Don’t Quit Your Claim! A Quitclaim Deed Is Not a Mortgage Saving or Estate Planning Tool
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…
-
What is a Special Warranty Deed?
If you’re like most people planning to make a real estate purchase, you want to know that the property you’re purchasing is actually owned by the seller, that it’s in reasonably good shape, and that the title is free of defects. Real estate transactions aren’t always as seamless or clean as buyers might like, though.…
