2006-06-13 05:12:37 · 6 answers · asked by 1Goodlife 1 in Business & Finance ➔ Renting & Real Estate
You are probably referring to a "quit-claim deed." It is a legal document transfering all ownership rights to another person.
See an attorney to make sure it is prepared and filed properly.
2006-06-13 05:16:11 · answer #1 · answered by Cão Bravo 3 · 0⤊ 0⤋
I believe it's called a "Quit Deed" and if you sign it, you are taking your name completely off the title. This means that you will have no legal claim to the home. If that is what you want, then go for it. Otherwise, I would look into some other means of sharing the home with your daughter. A real estate agent or lawyer could help you.
2006-06-13 12:17:58 · answer #2 · answered by stephanieharralson 1 · 0⤊ 0⤋
Quitclaim deed-contains NO warranties and conveys only such interest, if any, that the grantor may have when the deed is delivered but conveys that interest completely; often used to cure a defect in title. Best deed that provides the greatest protection is a General Warranty Deed.
2006-06-20 12:19:17 · answer #3 · answered by KISMET 2 · 0⤊ 0⤋
Check with a local title company in your area first. Quit Claim Deeds can (and do) cause problems later on, particularly if you aren't providing her with title insurance, She may have real problems getting title insurance when she's ready to sell.
2006-06-14 03:20:15 · answer #4 · answered by GaryODS 3 · 0⤊ 0⤋
A "quit claim" deed, as opposed to a 'warranty deed", is a lessor form of title i.e you are not standing behind it. A buyer typically wants a "warranty deed"
2006-06-13 14:12:34 · answer #5 · answered by vtguy777 2 · 0⤊ 0⤋
Pro - it is fun
Cons - Her significant other comming home early
2006-06-13 12:16:09 · answer #6 · answered by need to know basis 3 · 0⤊ 0⤋