Posted on: 11th May, 2007 08:34 pm
does a quit claim deed have to show consideration if the transfer title between parent and an older child
Welcome Richard,
I don't think quitclaim deed involves any kind of consideration.
I don't think quitclaim deed involves any kind of consideration.
Hi Richard,
Welcome to the forums.
It will depend upon your state actually. In a state like Michigan, the deed is required to explain any monetary consideration involved with the quitclaim transfer. In case, there is no consideration, the deed should mention that there is no consideration at all.
By the way, what's your state of residence? Let me know so that I can tell you if at all it is required. You may also enquire about this at the office of the Register of Deeds or the County Recorder.
Take Care
Welcome to the forums.
It will depend upon your state actually. In a state like Michigan, the deed is required to explain any monetary consideration involved with the quitclaim transfer. In case, there is no consideration, the deed should mention that there is no consideration at all.
By the way, what's your state of residence? Let me know so that I can tell you if at all it is required. You may also enquire about this at the office of the Register of Deeds or the County Recorder.
Take Care
"does a quit claim deed have to show consideration if the transfer title between parent and an older child"
Apart from taking advice from relatives and friends, I would say you consult an attorney also at the time of making the quit claim deed. It will help you to avoid any mistakes and complete the property transfer correctly.
Apart from taking advice from relatives and friends, I would say you consult an attorney also at the time of making the quit claim deed. It will help you to avoid any mistakes and complete the property transfer correctly.