bank owned properties only provide qiuck claim deeds /

Guest 0.10 Dollars($)

do bank propeties only sell with quick claim deeds ? How can you be sure there is no lein against the property ?

helping_user · Posted: Wed Nov 29, 2006 11:41 pm Post subject:

Hi Vic,

It's not true the bank properties only sell with quit claim deeds. And it is not also always possible to be sure that there is no lien against the property. If you are asking for my suggestion then I will suggest you not to go for this type of purchase.

Whenever, we should think about purchase, Always we need to go for warranty deed. Because by signing the quit claim deed it only transfer the rights of the person. It does not give any guarantee that other person does not have any interest in the property. If the other person having interest in the property has not signed the deed, then the deed is not affected.

But by signing the warranty deed, you get the guarantee that no other person has any rights on the property.

Thanks

allan · Joined: 16 Oct 2006 Posts: 16 7.75 Dollars($)

Hi,

Yes just make sure that whenever you are buying such property you have a warranty deed.

Thanks,

Allan

mcole · Posted: Thu Nov 30, 2006 5:16 am Post subject:

Whether you're buying from a bank, or anyone else, I highly recommend getting title insurance.

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