Clean light in the Quitclaim Deed

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How to Clean light in the Quitclaim Deed

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Speaker 1: 00:00 David Soble, and Im a Michigan real estate and finance attorney. And I was in receipt of this inquiry from Susan L whos from Walled Lake Michigan. And she says that back in 2005, she and her mother purchased a small home in Wolverine Lake. they lived in the home together until this year when Susan purchased her home, her own home. Recently, when Susan was going through some documents, she found that the deed to the home in Wolverine Lake had Susans name on it only it didnt contain her mothers name on the deed. So she now wants to prepare a quick claim deed, putting the home entirely back in her mothers name. So what she did is she gave me a call and she inquired whether or not she could have a quick claim deed. So first of all, a quick claim deed is a legal instrument that attorneys use to transfer interest in real property. Speaker 1: 00:50 So when the quick claim deed is properly completed and its executed, that means its endorsed, it transfers any interest t

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What is true about a quitclaim deed?

A quitclaim deed makes no assurance that the grantor actually has an ownership interest in a property; it merely states that if the grantor does, they release those ownership rights. Quitclaim deeds are typically used to transfer property in non-sale situations, such as transfers of property between family members.

What would a quitclaim deed commonly be used for?

Quitclaim deeds, therefore, are commonly used to transfer property within a family, such as from a parent to an adult child, between siblings, or when a property owner gets married and wants to add their spouse to the title. Married couples who own a home together and later divorce also use quitclaim deeds.

What are quitclaim deeds most often for?

The title is transferred without any amendments or additions. So, if the grantor has what someone would consider a bad title, that means the grantee is receiving it as is. Therefore, quitclaim deeds are often used between family members or to simply fix an error in the original title.

What does a properly executed quitclaim deed convey?

Quitclaim Deed A quit claim deed conveys to the grantee and the grantees heirs and assigns in fee all of the legal or equitable rights the grantor has in the property that existed at the time of the conveyance.

What are the disadvantages of a quit claim deed?

What are the Disadvantages of a Quit Claim Deed? No Protections For The Transaction: Unlike warranty deeds, a quitclaim deeds does not offer protections for the new property owner. There is no way to guarantee that the property is owned free and clear, and that there are no easements or restrictions.

What does it mean to convey a deed?

To convey is to make a transfer of a property interest to another individual by either sale or gift. This transaction is known as a conveyance. The standard way to convey a property interest is through a deed. The party who conveys property is known as the conveyor.

What is a deed executed and delivered but not recorded?

A pocket deed is a deed that is signed during a persons life but not recorded in the land records until after the person dies.

Does a quitclaim deed convey to the grantee whatever interest the grantor has?

To be clear, a quitclaim deed does not even represent that the grantor has any interest, whatsoever. Unlike both a general warranty deed and a special warranty deed, a quitclaim deed does not convey any after-acquired title.

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