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fetyo
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Post subject: |
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Hi Mary,
In my opinion you should consult an attorney in this matter. Why I am saying this is because how the deed is framed significantly depends on the prevalent laws in any particular state.
And an attorney would be in the best position to provide you the details in this regard. |
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helping_user
Joined: 31 Mar 2006
Posts: 806
Location: Hawaii
158.49 Dollars($)
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Post subject: RE: how to word the quit claim deed |
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I agree with you Fetyo. A quit claim deed should be drafted by an attorney as he is aware of the legal language involved in the process. And, its always better to consult a legal person.
However, you may take some help from standard quit claim deed form available at "http://www.wsba.org/info/x-12c.pdf".
Thanks |
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claudette
Guest
0.10 Dollars($)
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Post subject: quick deed |
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| hi I transfer my house to a friend but want my house back its possible ??? |
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claudette
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0.10 Dollars($)
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Post subject: quick deed |
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| hi please tell me about quick-deed thanks |
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adonis
Joined: 22 Oct 2005
Posts: 10242
Location: ALASKA
1042.50 Dollars($)
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Welcome Claudette.
It's not impossible if your friend is willing to give the property back to you. But in general, once you sign a quit claim or any other deed in order to convey interest in property, it isn't easy to cancel it. It will mainly depend on what your friend actually wants to do.
_________________
Procrastination is the enemy of your financial success |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 2645
Location: New Brunswick, New Jersey
488.43 Dollars($)
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Post subject: RE: what is quit claim deed? |
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Hi Claudette,
A quit claim deed is a deed that helps to transfer interest in the property from one person (grantor) to another (grantee) without stating whether the person transferring the property is its legal owner.
The deed provides no guarantee as to whether anyone can claim his or her rights on the property. It simply states that property is transferred.
For more details, you may refer to our section on Quit Claim Deed.
Thanks,
Sara |
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cw
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Post subject: Living Trust |
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| I Quick Claim my property to my Living Trust the attorney said I could give my Trust any name. At the time I though it would be a good ideal since I was having trouble with home invading and personal information missing. I am afraid if something happen to me my family may have trouble getting my property Can I Quick Claim the property back to the my name or do I need to get an attorney since the form need to be notary. |
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carnahandavid
Joined: 21 Dec 2006
Posts: 238
58.41 Dollars($)
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Hi Cw,
Regarding your doubt: "I am afraid if something happen to me my family may have trouble getting my property", I do not think that problems will arise in case something unfortunate happens to you and the property remains in the living trust.
If the heirs are clearly mentioned in the trust then there will not be any legal difficulty in the transfer of property at such time.
David |
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jameshogg
Joined: 20 Dec 2005
Posts: 10148
Location: Nevada
941.94 Dollars($)
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Post subject: RE: quit claim property to trust |
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Hi Cw,
If the names of the heirs are stated on the trust papers, then they won't have problems in getting the property. If you wish to get back the property in your name from the trust, just for the sake of your heirs having problems, then you need not go for it.
Thanks,
James. |
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Rebecca J
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Post subject: Quitclaim |
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| I was divorced 7 years ago and kept the house in the settlement. There is still a mortage on the home. The divorce decree states that if within that 7 years I defaulted on the mortgage loan, my ex husband had the option to take the house back or sell it and split the monies. If I did not, he was to sign a QuitClaim Deed My 7 years is up in March. Do I have to refinance? If I do not, does he still have any claim if I do choose to sell my home? Do I have to consult an attorney or can we just draw up a QuitClaim ourselves and have it notarized? |
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blue
Joined: 21 Oct 2005
Posts: 1131
Location: MARYLAND
138.04 Dollars($)
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Hi Rebecca,
| Quote: | | If I did not, he was to sign a QuitClaim Deed My 7 years is up in March. Do I have to refinance? |
If your ex husband was also a co-signer for the mortgage then he may require you to refinance it in your own name after he quit claims the home to you.
The other thing you have asked: | Quote: | | If I do not, does he still have any claim if I do choose to sell my home? |
After he quit claims the home in your name he will lose his rights over the house and you can very well sell the home. But in that case the mortgage dues will have to be repaid back out of the sale proceeds.
Thanks
Blue
_________________
Lets help each other. Try my blog |
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colin
Moderator
Joined: 30 Jun 2006
Posts: 582
Location: Waltham, Massachusetts
112.65 Dollars($)
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Post subject: |
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Rebecca,
You can make out a quit claim deed yourself for the transfer but I would advice that you do consult a real estate attorney for the transfer of the home in your name.
As it is always better to get legal advice before any property transaction is carried through.
Colin |
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Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1609
Location: MASSACHUSETTS
150.97 Dollars($)
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Post subject: RE: |
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Hi Rebecca,
Welcome to the forum.
If you have not defaulted in these 7 years, then as per the divorce decree, your ex-husband should sign a quit claim deed and hand over his interest in property to you. This is done to ensure that he does not claim any share of interest from your home in future.
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Do I have to refinance? |
You need not do a refinance. It is required only if your ex-husband is still on the loan and you want to remove his name from the agreement.
Hope the information will help you.
God bless you.
Samantha
_________________
Know how to compare lenders with mortgage booklet |
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helping_user
Joined: 31 Mar 2006
Posts: 806
Location: Hawaii
158.49 Dollars($)
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Post subject: RE: |
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Hi Rebecca,
| Quote: | | Do I have to consult an attorney or can we just draw up a QuitClaim ourselves and have it notarized? |
It is better to consult an attorney while drawing up a quit claim deed.
| Quote: | | If I do not, does he still have any claim if I do choose to sell my home? |
If you wish to sell the property, you need to make the title free of the mortgage by paying off the loan.
Thanks |
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Bill Holt
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Post subject: Ladybird Deed |
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| Is the Ladybird Deed recognized in Michigan? |
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