What is a Quitclaim Deed?
At South Florida Legal Doc Prep Services, LLC we can help with personalized legal forms such as quitclaim deeds as well as general warranty deeds that are used in real estate.
What is a Quitclaim Deed?
A quitclaim deed is a legal vehicle that is used for land transfers between parties that already trust each other. The person granting the quitclaim deed is “‘quitting” all claims to the property and gives it to another person or business. The deed transfers ownership quickly, without making any warranties. Should the grantor not have the proper title to the property, to begin with, the grantee will receive nothing.
A Bit of History
During the California Gold Rush, for example, the quitclaim deed was a great tool by which the title to a piece of land was taken. Land claims had to be made quickly and well, and a quitclaim deed was the best way to do it.
When to Use a Quitclaim Deed
The following is examples of when a quitclaim deed can be used:
- During a divorce, to transfer property from one spouse to another
- The transferring of a property to a revocable living trust
- Transferring of property or land to a brother or a sister
- The transferring of one co-owner interest in the land to another co-owner
- To give up potential rights to inherited real estate
- Quitclaim deeds are excellent to transfer land or property between business subsidiaries as well as parent companies
Deeds are important legal documents but can be complicated to understand. Let us walk you through the process.
What is a Foreclosure?
If you fall behind on them, the lender can begin a process known as foreclosure which allows him/her to sell your home in order for the loan to be repaid. It can be very difficult to build your own successful defense when facing foreclosure, as all cases are different. We can help you navigate this tricky maze.
First, you have to know that there are defenses that can be used to keep your home.
Some possible defenses include:
- The lender could have made a significant mistake by not following correct procedures.
- Loans can be bundled and securitized. In this case, it can be difficult for the foreclosing party to prove that it possesses your loan. This can help you. If they can’t prove they own it, they can’t take it.
- An error could have been made with your account. Perhaps your payments were not correctly allocated or unreasonable fees had been charged. You may want to review your servicer payment history to see if this was the case in your situation.
These defenses must be raised in court. Let us help you prepare your documents in your foreclosure case.
In foreclosures, time is of the essence. It is possible to wait too long and miss an important cut-off date. It can mean that you can lose your home.
South Florida Legal Doc Prep Services, LLC can help you. There are options available to you if you are wanting to stay in you home if you qualify and/or possibly even allow you to just stay in your home a bit longer to help you save money for moving expenses and relocation.