Leaving House to granddaughter

Guest 0.10 Dollars($)

Our home is paid for and we want to leave this to our granddaughter. Would a quick claim deed be the best way?

colin · Posted: Wed Jun 20, 2007 4:36 pm Post subject:

Hi Teresa,

Welcome to Mortgagefit forum.

As the home is clear of any mortgage it would be better if you use a warranty deed to transfer ownership in her name. With a warranty deed the grantor warrants clear title to grantee which is not so if a quit claim deed is used.

Please go through this page to learn more about the feature of warranty deeds & how it can be used for property transfer: http://www.mortgagefit.com/warranty-deed.html

Colin

miller_st · Joined: 17 Jan 2007 Posts: 917 168.82 Dollars($)

If there is any type of lien on the house such as a mortgage debt then a quit claim deed is appropriate as then the owner cannot transfer clear title. But in your situation where the house is paid off, you need not use a quit claim deed, rather use of a warranty deed as Colin mentioned.

Miller

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.77 Dollars($)

Hello Teresa

What you require is a General Warranty deed and not a quitclaim deed as your home is paid for.

Basically, in a quit claim deed, you the grantor, is simply transferring your interest to the grantee, that is your granddaughter. But, it does not guarantee that your granddaughter has the ownership rights. While, in a General Warranty deed, you are simply transferring all your official rights to your granddaughter so that she may have a title right.

All times are GMT - 7 Hours

Page 1 of 1