Real Estate Deeds Made Easy Since 1997
Your house title should state your current legal name. Of course, there are other documents that prove your identity. But having the correct name on the title will save steps when you want to sell or take a loan out on your home.
So here’s a brief guide to changing the title to your home after changing your name.
Continue reading “I’m Changing My Name. What About the House Title?”
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.
Continue reading “Divorce, Property Division, and the Quitclaim Deed”
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”
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. A special warranty deed—sometimes referred to as a limited warranty deed—warrants only against defects during the seller’s time as property owner. It will not protect against title issues that arose prior to the time the seller took occupancy. Consequently, it offers less protection to buyers, and more protection to sellers, than a general warranty deed, which is the most common option for selling or buying a property.
Continue reading “What is a Special Warranty Deed?”
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.
Continue reading “Quitclaim Deeds after Divorce or Dissolution: Navigating the Property Transfer”
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.
Continue reading “Quitclaim Deeds and Continuation of Title Insurance”