Quitclaim deeds are legal documents that you can use when you want to transfer your real estate to someone else. They can be convenient, but there are many considerations in connection with these. If you use one of them, you’re not making any promises or guarantees about the property’s condition or about the rights you have over it.
You’re giving over whatever interest you currently hold in the property, even if there’s still a debt connected to the property. There aren’t any promises or extra assurances that are included with a quitclaim deed.
The quitclaim deeds skip over the title guarantees and they give you the lowest level of protection when it’s compared to other kinds of deed transfers.
What Are the Requirements of a Quitclaim Deed?
The requirements for a quitclaim deed involve three points. First you’ll need a written record. Second you’ll also need a description of the property. Third you’ll need the names of the person who’s giving and the person who’s receiving – double-check those spellings. You should make sure to write everything down. You should state which property it is. Also, you should include the names to make all things clear and official.
How Do I Contest a Quitclaim Deed?
You can’t take back a quitclaim deed once you have signed it.
If you want to challenge a quitclaim deed, then you’ll also need to show that you only signed it because of some fraud, pressure (duress), or falsehoods (false pretenses).
You would also have to prove that you didn’t give up the property by your own choice, and that you never meant to move it to someone else.
What Are Some Possible Quitclaim Deed Loopholes?
There are several examples of loopholes an individual may be able to find with a quitclaim deed, including:
– It has a lien or other claim against it, so the title is not clear;
– A grantor can only transfer full ownership if they actually have it;
– There may be a need to establish ownership rights in certain cases.
Make sure that you’re confident about the property’s status before you move forward.
What Is the Statute of Limitations to Challenge a Quitclaim Deed?
Most of the states will give you as high as two years to challenge a quitclaim deed, though it’ll still change depending on where you actually live. You’ll also want to double-check that number. Let’s take California. There you’ll have five years to step forward if you want to question a quitclaim deed’s validity. You should get started with your own state’s laws so you don’t miss your chance to act if you need to.
What Are the Benefits of Quitclaim Deeds?
You’ll see that the local governments will use quitclaim deeds when they sell a property that went through foreclosure. That strategy still keeps things moving faster. You might also want to use a quitclaim deed if you’re moving your property into your own living trust.
Some people use a quitclaim deed when they want to avoid being responsible for a mortgage payment that they share with a spouse – it’ll help to clear up who’s actually on the hook for the loan.
Does a Quitclaim Deed Expire?
No, a quitclaim deed doesn’t expire. Once you sign and record it, you’re permanently handing over any ownership that you have in the property to someone else. That transfer then stays in place, without an end date or any expiration. If you ever want the property back, you can’t wait for the deed to run out. You would need the new owner to transfer it back to you instead.
What Is a Real Estate Deed?
Real estate deeds work as the legal papers that show who owns a property. You can also use real estate deeds to transfer ownership, which means that whoever gets the deed can become the new owner.
You’ll usually see the names of the people involved, a description of the property and the signatures from the people taking part.
Take some time to look up your state laws before you move forward.
Each state has its own laws about what makes a real estate deed valid and each state has its own specific requirements.
Checking these local requirements ensures your deed does what you need it to.
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What Are the Main Types of Real Estate Deeds?
A general warranty deed passes along the full ownership of the property. With this type of deed, the owner is promising that the title is free and clear.
A quitclaim deed passes along whatever ownership rights the person currently has with the property. Sometimes those rights aren’t completely clear to everyone, so there could also be other owners or even some unknown liens on the property.
A grant deed also gives someone an ownership interest in the property itself. You’ll see a promise here that the latest owner hasn’t already transferred that property to someone else in the past.
There are other types of deeds, too, like special warranty deeds or trust deeds. Try talking with an attorney about your options. This will help you find the best way to transfer ownership for your situation.
How Are Real Estate Deed Disputes Handled?
Quitclaim deeds can also lead to disputes. That happens because there isn’t always a title or someone is saying something about the property that doesn’t turn out to be true.
Consider the earlier situation with someone who can use a quitclaim deed to move their interest in a property. Say a third person comes forward to say that they also have a claim and wants to challenge the move – this person might say that the deed was forged, signed under false information or not even signed at all.
To sort out a situation like this then you’ll need to pull together some evidence that backs up the move. The most convincing proof is going to be a recorded deed.
Didn’t get the deed officially recorded? Don’t worry about it. You can still use things like some written messages. A witness who saw the move can be helpful. You can also use any other documents to show what part of the property was actually held before the quitclaim deed was used.
How Can Real Estate Deed Conflicts Be Prevented?
Keeping clear records is the best way to prevent future arguments about the real estate deeds. Make sure that you put every part of a deal in writing so you can still have proof if any problems come up later.
When sides sign a contract or an agreement that spells out the facts of the move and the steps for handling any future problems, it tends to make things smoother – it’ll also just give you a clearer path if a disagreement ever comes up.
You can also stay away from real estate deed problems if you run a title search – this search will tell you if the person selling the property owns it.
You’ll see if there are any other owners, unpaid debts or other problems that could affect the title.
Title insurance is another option that can add another layer of protection.
Are There Any Legal Remedies for Real Estate Deed Disputes?
Yes, there are several possible remedies which can apply in a real estate dispute. This can include compensation awarded to remedy an unknown lien or other type of defect, depending on the type of deed involved. Monetary damages for economic losses may also be available. In some cases, equitable remedies may be available, such as the court ordering a neighbor to move a fence if the property was described wrongly in a deed (i.e., a boundary dispute).
Do I Need a Lawyer?
You’ll want to have a property lawyer on your side whenever you have some questions, or run into any problems with a quitclaim deed or any property move. Your attorney can look at your situation, let you know if a different deed might work instead, and help if something unexpected comes up with your deed.
You should have your lawyer review your deed or any other documents related to transferring property before you sign them – you can seem more confident that everything will meet your state’s requirements.
If you’ve already signed some documents or need to dispute a deed, reach out to your attorney.
