QUITCLAIM DEED

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REHGADNET

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Post Posted: Thu Aug 07, 2008 7:19 pm    Post subject: QUITCLAIM DEED
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I would like to know if I have a commercial property in my name and I quit claim it to a coorporation I own ,Does it still show if I ever get sewed as a property they can put a lein on ?Or being owned by a coorporation that takes it off my name personally ?
Icon Mini Profile larry





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Post Posted: Fri Aug 08, 2008 2:37 am    Post subject:
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Hi REHGADNET.

Welcome to the forum.

You can quitclaim the property to anyone but if this is a mortgaged property then you will have to take permission from the lender before you sign the quitclaim deed. BTW the lender can also ask the grantee to refinance the mortgage on his name.

But there is any other liens attached on the property, the lien holder can still claim it even after you quitclaim the property to anyone.

Feel free to ask if you have further questions.

Best of luck,
Larry
Icon Mini Profile jheard
jheard
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Post Posted: Fri Aug 08, 2008 8:28 am    Post subject:
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If you transfer the propert to a corporation, it will be in the corporation's name, not yours. Therefore, no one who has a judgment against you personally can get the property.
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Disclaimer: This is not legal advice and I am not your lawyer. The information provided here is for educational purposes only, and is not a substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation.
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