Quick Claim Deed...need Answer Quick.
My father in law is ill and doctors have not given him long to live. He has moved in with my husband and I, we have since built a house which my father in law is buying for us. We should be closing on the house on Thurs. However, the title company say that I will have to sign a quick claim deed to remove my name from the title. His lawyer says that this will keep it from going into probabte. I do not understand anything about this and I don't feel comfortable signing something I know nothing about. If I sign this quick claim deed does it mean that after his passing that my husband will still be able to put me on the title and will this keep the home from going into probabte?
Please answer me as quickly as possible. <IMG SRC="images/forum/smilies/icon_eek.gif"> [ Edited by NiciaSC on Date 07/22/2003 ]
A "Quit Claim" deed is a very common way of conveying all title, right and interest from a person unto another person. Primarily used in divorces and between family members.
Trust your attorneys, thats what you pay them for.
should I talk to an attorney of my own? or trust that my father in law's attorney is looking out for everyone's best interest?
Your father in law's attorney is giving legal advice to you, he should be looking out for the best interest of all parties involved.
It never hurts to get an opinion, if your unsure, from a different attorney. If the 2nd opinion matches the 1st, go with it. If you get a 2nd, tak to a real estate attorney or probate attorney, or maybe one that practices in both areas.
Hi guys, I'm new here and I need help. How long do I have to wait, after a property was given to me by a quit claim deed, to refinance it? Please help
It all depends. All lenders have different "seasoning" requirements. I would contact a knowledgeable mortgage broker in your area who could help you.
a "quit claim" conveys title that an owner has at that time and doesn't convey further rights etc.
This claim is used when no ownership is involved and is a method of clearing up a title.
THis is not a very strong claim. One should always record his title to establish "priority" and "constructive notice" as to ownership.
Your husband and father in law should hold the property in "tennants in common" or your father in law "in severalty" with you and or your husband as devisee's in his will.
He could also deed title to you at any time. (However to record generally he needs to acknowledge the deed transfer. HIs attorney could help with this).
I would ask questions of his attorney until you are satisfied