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kevin1 · Joined: 06 Jul 2011 Posts: 1 1.29 Dollars($)

I bought a property with a small portion quitclaim deeded to the city. The paperwork itself does not reference any money exchanged from the city to the prevoius owner. My question is whether a deed of this nature requires some kind of token given to demonstrate a reason/motive for the transfer of interest. Much like in the case of a bill of sale.

smithsussane · Posted: Wed Jul 06, 2011 9:42 pm Post subject:

Hi kevin!

Welcome to forums!

It is not mandatory for the grantee to provide money to the grantor. However, if no money is exchanged, then the property transfer will be considered as a gift transfer.

Feel free to ask if you've further queries.

Sussane

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Is it required to have money or some other token paid to the grantor by the grantee in order for a quitclaim deed to be valid?

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