Any Real estate pros around? How to do a 'quit claim deed'?

[bliss_eternal]

Dh has decided he wants no further ties to his sibs. They inherited a plot of land--so their names are all on the deed. He just wants to relinquish his ownership of the property. Anyone know how this is done and what it may cost?

Thanks!

:hi:

[leftyladyfrommo]

1. Just go to a title company and let them draw it up and

record it. They will make sure its down right. And it should cost very much - $100 maybe.

[bliss_eternal]

2. That's great--

sounds so easy--and not at all expensive! Thank you so much! :hi:

[leftyladyfrommo]

3. When it comes to real estate it is better to have

professionals take care of it. If you do it wrong you can really end up with a legal mess.

[bliss_eternal]

8. So true--

and this is something where we can't really afford to have a mess to deal w/later. Dh has been through enough with this situation.

Thanks again!

[davsand]

4. I'm not sure quit claim deeds are recognized in every state.

I'd suggest you check with a Real Estate lawyer on this, but it sticks in my mind that quit claims are not always recognized as being valid deeds for the transfer of ownership.

I do know they are accepted here in Illinois, however, they are also seen as being a sort of "buyer beware" situation when it comes to protecting the new owner's rights. They are frequently used in situations like a divorce or estate settlement--so it may be that a quit claim deed is ok for use in this situation where he's simply removing himself from the group ownership.

The major sticking point would probably come when the group decided to sell or split the property. If the quit claim is not done correctly now, it could mean that clear title could not be established later.

Again, I'd suggest getting a lawyer for this one simply to avoid issues later on down the road.



Laura

[bliss_eternal]

9. Good advice--

prior to checking here, I put a call in to a an attorney--left a message. Digging around on the net I found out about quit claim deeds and thought I'd ask about them here. No matter what--I'll follow up with a lawyer, thanks Laura! :hi:

[DrDan]

5. I'd recommend a lawyer as well

in Florida, these do not release you from future liabilities, even though you have relinquished your claim to the property. (My daughter found this out after the fact)

Be careful.

[bliss_eternal]

10. Thats awful--

I'm sorry that your daughter had problems with this, DrDan... I hope she wasn't found liable for a great deal of money.

[flvegan]

6. I'm a title examiner. What state is the land in?

PM me, and I'll do it for you for free.

[bliss_eternal]

7. flvegan--

The land is in California--is this ok?

What a generous offer--thank YOU!