When not to use a Quit Claim Deed
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- เผยแพร่เมื่อ 22 พ.ค. 2022
- When you should NEVER use a Quit Claim Deed
In the vast majority of cases where property ownership is transferred, a quit claim deed should never be used. The primary reason is that using a #quitclaimdeed or #QCD will extinguish coverage under your owner’s title insurance policy. This is especially important when investors purchase property individually and then use a QCD to transfer the property to a trust or LLC. Watch this short #tipoftheday video and learn how this can be mitigated in a super simple way.
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I need help so bad im a signle mother i was taking care ofvmy grandmother before sge died my uncle already stole my corvette and now im getting served this quit claim deed
So sorry to hear. My suggestion would be to consult with an attorney. If you google "Legal Aid" you will find an office near you that offers free legal help. Best of luck!
@@RealtypartnersLLC mr. Thomas I was watching your videos on TH-cam and I am too having an issue I was wondering if there was a way I could contact you and talk to you for a few minutes today this is very urgent you're the only one saying that I feel like is making any sense at all
How about from father to son ?
What if the owner of a property owes a balance on a promissory note to the heirs (children) of an estate. The deceased (Dad) of the estate gave the deed to the owner with a promissory note.
The owner defaulted on the promissory note in the amount of 45K with interest which was owed to the heirs. One of the heirs who is also Executor of the estate wanted to acquire the property back to the family name. So, he entered into a Quit claim, and paid the owner 10K for the property without other heir’s knowledge or consent.
What questions should I ask to make sure the Quit Claim was legitimate? Is a Quit Claim appropriate for the above situation. Do the heirs still get the promissory note balance or accelerated interest in the amount of 45K? How do I ensure my amount of equity does not decrease due to bad decisions in the future joint-ownership potential or buy out position ? Can I contest this Quit claim transaction due to my absence?
Hi there, I am not an attorney and we cannot offer legal advise. I strongly suggest you consult with an attorney. Best of luck and so sorry I could not offer my help.
Why wouldn’t I transfer, via Quit Claim, MY clear title personal property to MY LLC?
If you have an owners title policy, then that policy would become null and void in essence, unless you use a Warranty Deed.
If your LLC decides to sell the property in the future and the title search at that time discovers some defect, then your LLC would have to deal with it, since as stated your title policy would no longer cover the property. You were the insured, not the LLC and you did not make any Warranties when you transferred title via a quit claim deed. As stated, just use a Warranty Deed instead.
Can I file a claim I'm the Grantee (fire damage)
I need help wat does it mean to be a grantee