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Fax Quitclaim Bill Of Sale Form

Fax Quitclaim Bill Of Sale Form

Aug 6th, 2022

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How to Fax Quitclaim Bill Of Sale Form

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In this segment, Lee Phillips explains the concept of a quit claim deed, which allows an individual to relinquish their interest in a property. This type of deed is commonly used when transferring property into a living revocable trust, as the trust is considered an extension of the individual. A quit claim deed only states the individual's intent to relinquish any interest they hold in the property, regardless of its value. For instance, one could issue a valid quit claim deed for their minimal interest in a high-profile property like the White House, although the deed may not carry significant value. However, he notes that quit claim deeds are not suitable for transferring assets to a company, such as an LLC or corporation.

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