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ddfelter
Guest
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 Posted: Thu Jun 15, 2006 5:24 pm Post subject: buying a home? |
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They are telling me that when I buy this home there is only quick deeds involved, no abstract, I don't know what this means, is this a home I will own or not. Do not understand what they are telling me. Thank You. 
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 Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1602
Location: MASSACHUSETTS
149.70 Dollars($)
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| Posted: Thu Jun 15, 2006 5:44 pm Post subject: deed in buying a home |
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Hi Felter,
Welcome to MortgageFit Forums.
Quit claim deeds are used in buying or selling a home. Through this deed the seller transfers all his interests in the property to the buyer but doesn't guarantee that the conveyance of the title is valid.
If you are sure that the title is valid then you can use a quit claim deed. Otherwise a Warranty deed or Grant deed is better where the title ownership is much cleaner.
Through a Warranty deed or Grant deed the seller warrants that the title that is conveyed is guaranteed to be valid.
Consult a real estate attorney in the process to avoid any complication later on.
God bless you.
For MortgageFit,
Samantha
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cozier
Guest
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| Posted: Thu Jun 15, 2006 5:50 pm Post subject: |
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| Even if you use a quit claim deed you must so a title search first so that you are assured that the title is free from any liens or any other ownership claims. |
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