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Quit claim deed

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Hamid Khalili Guest	Posted: Tue Nov 08, 2011 5:21 pm    Post subject: Quit claim deed Like 0 Dislike 0 Is it a legal requirement to mention in the QCD how much your mortgage is, especially when you are not paying any money to the relative who is signing a QCD form and you take a new mortgage to pay for the purchase.
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 516 Location: Australia 82.74 Dollars($)	Posted: Tue Nov 08, 2011 5:53 pm    Post subject: Like 0 Dislike 0 Hi Hamid Khalili, A QCD may be purchased for a small sum as protection against the possibility that the grantor has a substantial interest unknown to him. It is therefore possible for a grantee to receive no actual interest, and – because a quitclaim deed offers no warranty – have no legal recourse to recover their losses. _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Wed Nov 09, 2011 7:25 pm    Post subject: Like 0 Dislike 0 Hi Hamid, I have never heard the fact that you need to mention your mortgage amount in your quitclaim deed. In the deed, you need to mention only the amount for which the property is being sold. Thanks

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