A quit claim deed is a document that transfers property rights from one person to another. It’s typically used when someone dies and their estate is being distributed, or when the property is being sold. Find out when a quitclaim deed form is needed as well as the different types of forms of this type that can be availed today.
Why Would You Need One?
If you’re looking for a way to transfer property, a quit claim deed can be a great choice. It’s easy, uncomplicated, and inexpensive.
Here are some things to remember:
• A quit claim deed can only be used to transfer ownership of property. It cannot be used to grant any other rights, such as power of attorney or a right-of-way.
• The person who owns the property must sign the quit claim deed in order for it to be valid.
• You may not use the same quit claim deed to transfer more than one piece of property—you’ll need multiple documents if you’re transferring more than one piece of land or real estate.
• You cannot use a quit claim deed to transfer title if there is already an existing mortgage or mortgage lien on the property being transferred.
Types of Quit Claim Deeds
There are two types of quit claim deeds: General and Special. A general quit claim deed transfers all rights and interests in the property, including any encumbrances (liens) that may be attached to it. A special quit claim deed transfers only those rights and interests that you specify in the document. You can find both types of quit claim deed form in Texas template easily online.
Quit claim deeds are actually very common in real estate transactions; however, they can also be used in other ways. For example, they can be used by lenders who want to release their interest in a loan or security interest after making payments on a loan and repaying it in full. They can also be used when someone buys a home from someone else who has already paid off their mortgage; this allows them to transfer their title without having any liens against it.
Carl writes often about online legal drafting like affidavit, bill of sale and quitclaim deed forms to help the people.
Last updated 7 days ago