When would I need to sign a quit claim deed?

Answer by  patti (29325)

A Quit Claim deed states that you have no interest in a property that lists your name as an owner. This is very common in divorce, e.g: property issues were settled in the divorce agreement. A Quit Claim is a quick, easy way to get your name off the deed.

Answer by  Liz59 (10966)

Well, you would have to submit an application any time you want the deed to be in effect. I suggest you sign it in advance.

Answer by  blahblah (670)

A quit claim deed is often used to transfer property between family members, from a person to a trust or business, or to clear up a "cloud" on a title.

Answer by  cmkekbif (778)

If you are divorcing or otherwise parting ways with the other owner of the house, you have to quit claim to release yourself from the property. You may still be on the mortgage but it will remove you from the deed as a part owner of the property when you sign.

Answer by  blahblah (670)

A quit claim deed transfers ownership of property to another person. You need the legal description of the property you want to transfer and the proper form for your state.

Answer by  Stephen (123)

When title to a piece of real property can not be verified, parties who formerly had some claim to the property will be asked to sign a quit claim deed.

Answer by  tamarawilhite (17883)

Never sign a quit claim deed if you are still on the mortgage; you'll owe but now own. Only sign if willing to give up rights to the property.

Answer by  LeheckaG (1826)

By signing a "quit-claim" deed, you are giving-up/transferring your-rights to a parcel of real-estate-property to someone else, usually "in-exchange" for some-consideration (and without offering any-warranty of your-entitlement to those-rights). You might sign a quit-claim deed as part of the escrow-process when-selling a property, when transferring your-rights to a relative/spouse/trust, when "giving" your-property over to your mortgage-company in-exchange for forgiving/vacating your-mortgage...

Answer by  Desine (427)

When you're surrendering ownership of something, generally real estate. You use it for gifts of real estate, surrendering interest in property after a divorce, and similar situations.

Answer by  patti (29325)

By signing a quit claim deed, you state that you have no interest in the property. This is common when marriage left a name on the deed.