Posted on: 18th Apr, 2007 10:16 am
i bought two pieces of property (paid cash) from the same person in 2001 and did a quit claim deed, and now i am in the process of selling the two piceces of property and the grantor that did the quit claim deed will not give me general warrant deed now, unless i hire him an attorney to let him know it is ok and nothing has changed on the property. the title company will not insure new buyers without a general warranty deed. do you have any suggestions on how i should handle this.
Hi Pat,
Welcome to Mortgagefit forum.
You need to explain the whole process to the person from whom you had purchased these properties. If he understands the difference between the two deeds and why you are asking him then he will agree.
Title company will not insure a buyer as quit claim deed does not guarantee that you own the title clear of any liens but if a warranty deed is made then it warrants that seller is transferring clear title to grantee.
Basically this person is to be explained the difference then there are more chances that he will get convinced.
Colin
Welcome to Mortgagefit forum.
You need to explain the whole process to the person from whom you had purchased these properties. If he understands the difference between the two deeds and why you are asking him then he will agree.
Title company will not insure a buyer as quit claim deed does not guarantee that you own the title clear of any liens but if a warranty deed is made then it warrants that seller is transferring clear title to grantee.
Basically this person is to be explained the difference then there are more chances that he will get convinced.
Colin
I did, but I guess at my expense I will have to hire an attorney on his part to explain this to him, although he has done many Real Estate deals and knows exactly what a general warranty deed, but do to the fact he just wants me to spend my money on him.
Are you selling these properties using a quit claim deed to the buyer? May be because of that title company is not agreeing to insure the buyer.
If you make a warranty deed to sell the properties then there should not be any problem. Title company will accept a warranty deed from you as being seller of these properties.
Miller
If you make a warranty deed to sell the properties then there should not be any problem. Title company will accept a warranty deed from you as being seller of these properties.
Miller
Hi Pat,
I think the title company you have approached accepts only a warranty deed and not the quitclaim. And, you have obtained ownership rights through a quitclaim deed.
Either your grantor is a bit doubtful over this whole issue or else he may want you to spend on him. That is just a way of bothering you since he has to sign again on a warranty deed.
I understand, hiring an attorney would cost you a lot more but then there's no way out here except that you switch over the title company and before you deal with them, just ask them if they would accept a quitclaim deed.
Thanks.
I think the title company you have approached accepts only a warranty deed and not the quitclaim. And, you have obtained ownership rights through a quitclaim deed.
Either your grantor is a bit doubtful over this whole issue or else he may want you to spend on him. That is just a way of bothering you since he has to sign again on a warranty deed.
I understand, hiring an attorney would cost you a lot more but then there's no way out here except that you switch over the title company and before you deal with them, just ask them if they would accept a quitclaim deed.
Thanks.