Quitclaim Deed Explained

What’s a quick and easy way to transfer ownership of real estate? It’s a quitclaim deed – not quick with a “CK” but quit with a “T”. Just because it’s quick, that doesn’t mean that becomes part of its name.

A Quitclaim Deed is used in situations involving transfers between:

- Family members
- Divorcing spouses
- Business owners to their businesses
- Tax sales
- Other limited and special circumstances

✴️ Follow us on our socials to stay up to date:

[octaviawalker]

I have a question. My husband bought the home before we gotten married. Soon after we gotten an attorney and we did a quitclaim as joint tenants with the rights of survivorship. I was wondering what will happen in the event of us divorcing? Just want to be educated on this type of situation since this is my first time doing this. Thank you

[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?