Wipe out logo in the Quitclaim Deed

Aug 6th, 2022
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How to wipe out logo in the Quitclaim Deed

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welcome back to another tax sale starters tip of the week and in this weeks question uh that we received from our audience is does the tax deed at auction wipe out an existing mortgage ill answer that question in just a moment [Music] typically in a tax deed when it goes into auction the mortgage is pushed to a secondary position in other words the tax lien or the tax deed takes priority over a mortgage so even though the mortgage is in the first position the tax deed supersedes that its called like a super lien if you will and it takes position uh precedence over the mortgage now many times mortgage owners or mortgage holders will come back and buy that lien or certificate prior to the auction uh which is why sometimes you may notice that when you have a list going into the auction the day before you go into the auction that list is uh slightly changed and some of the properties you may have been looking at have been removed and that is because the financial institutions have have

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A quit claim deed form must include the following information: the names of the grantor (the person transferring the property) and the grantee (the person receiving the property), the legal description of the property being transferred, and the date the transfer is taking effect.
A quitclaim deed is used to turn property over from a seller to a buyer. So, if the seller owns a home, they can give a quitclaim deed to the buyer, and the sellers entire interest has been transferred. This process has no warranties or title.
Transferring Indiana real estate usually involves four steps: Locate the prior deed to the property. Create the new deed. Sign the new deed. Record the original deed.
Preparation and Execution: The person transferring the property (grantor) must prepare a Quitclaim Deed form. Moreover, the grantor must sign the quitclaim deed in the presence of a notary public. The notary will then acknowledge the grantors signature by affixing their seal and signature.
Due to this, quitclaim deeds typically are not used in situations where the property involved has an outstanding mortgage. After all, it would be difficult for many grantors to pay off a mortgage without proceeds from the sale of the property.
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.
Checklist: Preparing and Recording Your Quitclaim Deed Fill in the deed form. Print it out. Have the grantor(s) and grantee(s) sign and get the signature(s) docHubd. Fill out a Statement of Value form, if necessary. Get the Uniform Parcel Number (UPI) on the deed certified, if required by your county.
Here are the steps for writing and filing a quitclaim deed in Florida: Download the Florida quitclaim deed. Fill in the name and address of the person who prepared the deed. Complete the buyer and seller sections. Property details. Submit tax details. Signatures. Delivery of the deed. Filing with the clerk.

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