What is a Quitclaim Deed? - EXPLAINED

Quitclaim deeds transfer property from one person to another. They also can remove someone’s name from a deed by having one party “quit claim” to the property.

But while quitclaim deeds are one of the most common deeds used in real estate, they shouldn’t be used in certain transactions. Watch our video to find out more about quitclaim deeds and appropriate use cases.

Read more about quitclaim deeds by accessing the article above (and find a link to make your own deed).

DISCLAIMER:
This video is strictly for educational purposes and is in no way intended to provide legal advice. We do not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the information on this video is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of our videos.

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0:00 Intro
0:11 We'll Overview
0:20 What Kind Of Protections Do Quitclaim Deeds Offer
1:19 Effects On Mortgage
2:16 Common Uses For Quitclaim Deed

[shashgo]

Some questions I have: 1) If a divorced couple who both have their names on the title do a quitclaim to remove the wife from the title, then is the grantor both the husband and wife, and who is the grantee. 2) Does the leaving spouse use the words 'quitclaim all my interests" or "quitclaim 100% of my interests"? 3) If the leaving spouse is not expecting to get paid, then does there have to be some monetary consideration in order to make the deed executable?

[ericcraig]

If a quitclaim deed is used to remove a Grantee. what other forms are needed to go with it? Like Land transfer form and an Affidavit filled out by grantee to wave their rights to property???

[AnytthinggGoes]

So once the quit claim deed is recorded after it is signed by both parties, how soon does the granters name get removed from the title so that the title is now put into the grantees name

[Intotheout.]

What do you mean by they do not guarantee that the grantee legally owns the property 0:52

[nubiancutie]

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?

[noahriding]

At what point is a quick claim deed turned into a normal deed after a sale has been made on a property or land? When you buy land for example, how and what do you look for in the deed, contract paperwork, to make sure you don't get screwed?

[duclostchabo]

Im breaking up with a friend a dated for 4 years. We bought a property together. Its both showing on our credit reports and i dont know how going forward i can transfer it over to her and remove it from my credit so i can purchase my future home. This 1/2 million home is keeping me from qualifying for just about anything now. Please help

[sleepinggiant]

I wanted to make sure that if my mother passed away I would not have any problem regarding ownership of my two properties. Attorney recommended a quit claim deed. Was that the correct recommendation ?

[andrearivera]

So does the house needs to payed off first?

[gabrieldominguez]

Hello, can I buy a house that has a quit claim deed sale? If yes, what should I do first to make a purchase correctly??? Thank you

[anthonysmith]

can anyone be approved for a quit claim deed or does the buyer have to be approved by the lender?

[jeffreyip]

Hey Eforms! great video. I just had a question about quitclaim deeds. If a quitclaim deed is usually used to clear up an imperfection in a title otherwise known as a cloud on title. And assuming that a cloud on title is a circumstance in which the public records are not perfectly clear about who owns or has rights to certain property rights. How exactly does a quitclaim deed clear a cloud on title? Looking forward to hearing back from you guys. Thanks!

[rolandsauldouze]

How does a quit claim deed work when the grantor is deceased but there's another family member that lives in the house.

[lindanorris]

IN THIS, A FINANCAIL CONSERVATOR AND AN AGGRESSIVE RECOVERY ESTATE LAWYER CAN SELL OFF THE HOME OF A DECEASED PERSON WITH DAYS OF THEIR DEATH, WITH OR WITHOUT THE HEIRS KNOWING ABOUT THE SALE. AND REGARDLESS OF IF THERE WAS A WILL LEFT BY THE DECEASED.

[MajorCulturalDivide]

My mother wants to leave me her house when she dies. Will this form work?

[diamond]

My EX-spouse and I got a uncontested divorce and did not claim the house in the divorce. We are doing a quitclaim deed, changing my married name to maiden name and no money is exchanged and taking his name off. Would the Grantor be MY married name and EX's name and the Grantee my maiden name and how do I do $0 money?

[flgator]

The seller is willing to sell me the property via quit claim deed; however, I just found out that the home has an existing interest only loan on it plus solar panels that will increase property taxes starting Nov 1st 2020. What does that mean for me as the buyer?

[kev]

Great video. I currently help my parents pay their mortgage but it's seen as a gift. My name is not attached to the property in any way. If I got them to do a quitclaim to me would that bring me tax benefits?

[gretakaveny]

The grantor quit claims their property when they can’t afford to pay their mortgage

[clamberthjr]

Grantor? Seller your no help who is grantee and grantor jesus christ