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Tax implication of Quit Claim Deed

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mac_7

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PostPosted: Thu Jul 06, 2006 7:51 am    Post subject: RE

I didn't understand the question properly.

You father can quit claimed to you and that whole process is not a costly affair.
 
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Icon Mini Profile sara
sara


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PostPosted: Thu Jul 06, 2006 8:01 am    Post subject: RE:

Hi,

Your father can sign a quit claim deed and transfer the property interest in his name. As a quit claim does not guarantee transfer of ownership, so it is better if he can use a title deed for getting the ownership in his name as your mother is disabled.

Thanks,

Sara.
 
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manoman

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PostPosted: Fri Jul 07, 2006 8:04 am    Post subject: How to get her name off the house title

My wife and I recently divorced. I paid her the money to get her off the Mortgage to the house... now I want her name off the title. How do I do this.
 
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Icon Mini Profile Samantha
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PostPosted: Fri Jul 07, 2006 9:38 am    Post subject: How to get your wife's name off the house title

Hi Manoman,

Welcome to MortgageFit Forums.

You can get her name removed from the title through a quit claim deed. She can leave her interests in the house by signing this deed.

Consult a real estate lawyer and get the deed prepared and processed under him.

God bless you.

For MortgageFit,
Samantha

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kallie

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PostPosted: Sun Jul 16, 2006 4:16 am    Post subject: quit claim deed

My son is wanting to buy property - a quit claim deed - seller insist on
a deposit to hold property for 30 days. Seller will not consider holding
the property longer if needed. It appears that the prior deed was a warranty deed and the present owner purchased the land from a family member by quit deed. If bought, how do we change this to warranty deed? Also, would it be to my sons' benefit to have a warranty deed and
why?
 
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Icon Mini Profile Caron
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PostPosted: Sun Jul 16, 2006 8:20 am    Post subject: RE: Warranty deed

Hi,

Welcome to the forums.

It will be to your son's benefit if the ownership is obtained through a warranty deed rather than a quit claim deed. A warranty deed protects the buyer against certain title defects that can affect the property ownership. But a quit claim is not useful in this regard.

To know more on this issue, please go through http://www.mortgagefit.com/warranty-deed.html and http://www.mortgagefit.com/discuss/homebuying-deeds.html . Also contact an attorney and consult how you should get the warranty deed.

Please let us know if there are any more queries.

Thanks,

Caron.
 
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Khristen

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PostPosted: Thu Jul 27, 2006 8:23 am    Post subject: Quit Claim Deed

Is it possible to write a quit claim deed yourself and have it notarized or is there a standard form to use and have it notarized. Does an attorney have to be in either process.


[Deleted email address as per forum rules. Thanks.]
 
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Patreena

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PostPosted: Thu Jul 27, 2006 8:29 am    Post subject: Quit Claim Deed and Comtempt of Court

My ex husband and I are divorced and the court ordered him to pay certain debt on time and to have our house refinance solely in his name only within 2 years. Since that decree, Jason has not made timely payment on the debts or the house mortgage and is renting the house to someone else. Should I take him back to court under Contempt of Court and also ask for a Quit Deed Claim.
 
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mac_7

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PostPosted: Thu Jul 27, 2006 8:51 am    Post subject: re

Hi, Patreena

I have answered your query here.

http://www.mortgagefit.com/know-how/about3967.html
 
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Icon Mini Profile jerry
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PostPosted: Thu Jul 27, 2006 10:04 pm    Post subject: RE: Quit claim deed

Hi Khristen,

It is not possible to write a quit claim yourself. There are standard forms available; you need to collect such a form and then consult your attorney. He will be the right person to help you while you notarize the deed.

Thanks,
Jerry.
 
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iaintcinderella

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PostPosted: Fri Aug 04, 2006 4:17 pm    Post subject: quit claim deed

my ex-husband and i divorced nine years ago. before the divorce, he re-financed the house and i was taken off the mortgage. at the time, i did not sign off on the deed.

now, he has sent me papers to sign -- a quit claim deed.

my question is...what rights do i have here? what are the consequences of just signing this thing over? the house has doubled in value, and in light of the fact i'm the one that paid for most of the mortgage during our married life, am i entitled to anything? what happens if i do not sign?

thanks.
 
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Icon Mini Profile jameshogg
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PostPosted: Fri Aug 04, 2006 4:30 pm    Post subject:

Hi Cinderella,

Quote:
what are the consequences of just signing this thing over?


A quit claim deed will transfer the interest you have in the property to your ex-husband.
 
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Icon Mini Profile blue
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PostPosted: Fri Aug 04, 2006 5:48 pm    Post subject:

Cinderella about your other question
Quote:
what happens if i do not sign?


Your ex-husband might take help of a real estate attorney and start a lawsuit to have your name removed from the title.

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mern

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PostPosted: Sun Aug 06, 2006 4:18 pm    Post subject: quit claim

hi,

My mom is getting older. And my sisters are worried about the financial burden. My mom only has property and no other assests. Would quit claim be the best for it to be transfered over to me and 3 sisters in the best intrest of my mother?
 
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Icon Mini Profile Jessica
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PostPosted: Sun Aug 06, 2006 8:14 pm    Post subject: RE: Is quit claim the best option?

Hi Mern,

Welcome to the forums.

I think it is better that you transfer the property from your mom to you and your sisters. A quit claim will be the best option if you wish tranfer only the interest and not the title. But in order to transfer the title, you can better sign a warranty deed which is a common form of real estate transfer.

Regards,

Jessica.

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