Tag: quitclaim deed
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We’re Inheriting a Deed Together (And My Co-Owner Has No Job)
Meet Terry, a new deed holder. Terry received the home from his mother. “My mother recently passed away,” as he tells the story. “I inherited the deed, with my sister. My mother was supporting her, but that’s come to an end.” His sister is already living in what used to be their late mother’s home.…
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What’s “Undue Influence” in the Transfer of a Deed? Massachusetts Appeals Court Speaks
A homeowner transfers a deed. But someone else in the deed transferor’s circle isn’t too happy about who got it. Was the deed transfer fair? Yes, it was, if that’s how the owner wanted to pass property along. Of course, that assumes that the person signing the deed away knows the property’s value, and the…
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Older Adults, Look Out for These Two Common Deed Bloopers
What are the most common fumbles older adults make with deeds? Let’s take it from the top.
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Transferring a Deed Before the Loan Is Paid Off? Be Mindful of the “Due-on-Sale” Clause
Are you thinking of transferring your deed? You might be quitclaiming the deed to someone you know, or you might be transferring it into a company or trust. Or you might be getting ready to sell. In all of these cases, check the rules on your home loan. If you have a conventional mortgage loan…
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Do the Co-Owners Have Survivorship Rights? How to Change a Deed From the State’s Default
At some point, a couple might decide to change the way they vest a deed, to add rights of survivorship. It’s a commonly made decision. Say a couple has been together for some time and each wants to be sure their co-owner gets their interest in the home without having to pull it through the…
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Biggest Deed Slip-Ups (and How Not to Make Them)
Mistakes happen. When they happen to a deed, they can go unnoticed for a long time — sometimes leaving a clouded title through a chain of owners. But at some point, a deed mistake catches up to an owner, buyer, or heir. So, let’s take a look at 8 common homeowner deed mistakes, and how…
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Transferring Property to Family: What to Know About Gift Deeds
A gift deed signifies a voluntarily title transfer from a “grantor” (the giver) to a “grantee” (recipient). Recipients are often loved ones or charities. A home’s transfer through a gift deed happens without consideration — meaning no money or thing of value is given in return. The deed states that the title is conveyed for…
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Should My Spouse Add Me to the Deed?
Congratulations on your marriage! One of the many questions you might have about your life ahead is whether to go onto your life partner’s home deed. While we can’t provide personalized advice, we’re glad to offer a set of considerations for anyone asking this question. Follow up with your financial adviser on the points you…
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Bad Deeds Shouldn’t Go Unpunished: Fraud Updates From All Over
A quitclaim deed is a useful tool, when created by the right hands and transferred for the right reasons. But in the hands of forgers and swindlers, these instruments harm people. Especially seniors, the families of deceased homeowners, and people who don’t live in their homes. But actually, anyone could be caught up in a…
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When Do You Need a Warranty Deed?
Sometimes it’s best to use a warranty deed to transfer property. It’s common whenever there’s a seller and buyer who didn’t know each other before their deal. In fact, a mortgage lender or insurance company could insist on a transfer by warranty deed. But why? A warranty deed transfers a title with certain protections. This…
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FAQ: When the Divorce Decree Conflicts With the Deed
Many couples own homes together. If they ever decide to separate, they need to know what to do with their co-ownership. They could simply sell the home to solve that issue. But after a legal separation or divorce, one of the two people may want or need to stay in the home. If the deed…
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Can I Add a New Name to a Deed Without the Current Co-Owner’s OK?
If two people are on the deed to a house, can one party add someone else to the deed without the other deed owner’s permission? Maybe the owners are a senior and an adult child. Can the younger owner legally add a marriage partner to the deed without the senior owner’s go-ahead? First, a basic…
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What If the Deed Is Not Recorded? (Never Let This Happen.)
By accepting a deed, you become a new property owner. Be sure to file the deed you accept with the county recorder’s office. The recording becomes your public notice that you now own the property described on the deed. You might have heard that a deed works to transfer property as soon as it’s offered…
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Troubleshooting After Divorce: My Name Is Still on My Ex’s Mortgage.
Maybe your ex got your former home through your divorce. And maybe you thought it made sense to let your ex keep the loan — after all, the interest rate on it is great! And those are your kids living in the home… why make life harder for them by complicating the status of the…
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My Dad Put My Nickname on the Deed: What Should I Do?
My dad passed away. His name and mine are on the home deed I just inherited from him. Here’s the issue. He put my nickname, Kathy, on the deed — though my actual name is Katherine. Do I need to change the deed? If so, can you tell me how? This kind of situation arises…
