eSignature Quitclaim Deed Made Easy

Merge deed

[Music] our quitclaim deeds kryptonite or gold if you accept a quick claim deed to a property you could be getting much more than you expected many new investors inadvertently call quitclaim deeds quick claim deeds because of the rapid nature of transferring title or ownership of a property the term quit refers not to the speed of the title transfer but to the fact that the seller quits any legal responsibility for the property and its title deficiencies these property and title problems are immediately transferred to the buyer literally you can have a sign a quitclaim deed recorded in minutes later be the owner of a property in fact you will also become responsible for liens and code violations that can be cross-collateralized against any properties you own what is most misunderstood is you're normally not receiving clear fee simple title to the property in fact you are immediately responsible for all title deficiencies to the property including personal judgments that the seller may have accumulated and that are recorded against the property these judgments and even IRS liens do not unattach from the property when the quitclaim deed is recorded quitclaim deeds are the least desirable of the three common deeds you can receive to best understand the deficiencies of a quitclaim deed you should have a basic understanding of the other two types of Deeds warranty deed the seller guarantees to the buyer that he has the right to sell the property and the property is free and clear of other liens for the entire history of the property if an issue arises the seller must defend the title against any and all other claims and compensate the buyer for any unsettled liens or claims special warranty deed the same as a warranty deed except the seller only guarantees against claims or liens created during the seller's ownership of the property thus the seller only warrants title for issues that arose during the time the seller owned the property quitclaim deed provides no guarantee or warranty of title the use of a quitclaim deed can be appropriate in limited circumstances such as when the buyer has prior knowledge regarding the history of the property the most common uses of quitclaim deeds are for transferring the title from an ailing or dying parent to his children which may still require a probate later transferring a title of a property that has a break in the chain of title which can result in conventional or hard money lenders not willing to fund the property overcome deficiencies that will not allow for a title insurance policy to be issued transferring title from one spouse to the other in a divorce proceeding clearing a title defect or cloud on the chain of title such as a misspelling of a name or a personal in title who does not want to be involved with a property sale or transfer getting rid of a headache property that has liens or code violations...