Legalities Of A Quit Claim
i have recently tried to finance a home from my brother and his wife . i could not get financing on the home so both (my brother and his wife )agreed to quit claim the property to me . we got the quit claim deed and took over the payments on the home as the loan stood .now more than 9 months later my brothers wife (who is a co-borrower on the loan) is seperated from my brother and attempting to "take back the home". does she have any legal right to the home in any way shape ,form or fashion? i told her to go jump off a bridge that i now owned the home and that she was wasting her time? is she really wasting her time or am i in need of legal assistance? by the way the home is located in mississippi if that makes any difference
It seems like with a quit claim deed they don't have any claim on the property. Once they sign it over to you, it's yours. Now their names may still be on the loan, but that probably doesn't give them claim.
I would get some legal assistance if I were you to make sure of your rights. My information comes from an Idaho quit claim.
break down and pay a real estate attorney $300 to telll you if you did the WC right. If you missed anything it would be helpfull for you to know.
If you had a QC properly executed, and recorded, you will be fine - and if so, just for kicks, tell the soo to be ex that you just might start paying 120 days late to wreck her credit. (maybe not.....)
seriously, you should really present your case to a competant real estate attorney.
as far as bieng properly executed we did hire an attorney to draw up the claim and it is filled in chancery court. sighned and dated by all partys involved.
yes it was noterized and as far as paying the payment late lol this would be much fun but i do plan on getting this loan in my name shortly and i want it paid on time to show good standing .i have credit now and could probly get the house refinanced in my name but they have a 54321 prepayment penalty on the loan and i was wanting to attempt to wait that out.
I think the only attack on the Quit Claim deed would be the consideration. I supose Love and Filial Affection is out?
Out of curiosity did you take seperate deeds from the wife and hubby or did they both sign on the same deed? Of the deed is with both signatures and your brother likes you. You Win. If not as I said the only attack is consideration.
Cheers, My best to the Levees.
Lucius
the quit deed was drawn up while my brother and his wife were still on good terms . but the deed was a single deed filled out by both parties on the same form. as far as love and affection there is no love loss for the wife but my brother and i have a fine relation and he is in no way wanting the home . he is happy with his decission to sell.
Just be aware that basically all a QCD can convey is a release of whoever signs it...NO guaranty of title, or ownership interest, etc...just a release.
It's old & trite (heck, so'm I !) but I'll say it again: I could legally give you a QCD on all my interest in London Bridge!
Wow, what a deal, huh?
if they signed a Q/C they have given up all the rights to the prop. you will be fine sounds like she doesn't know about the Q/C or how it works. you had a attny. draw it up just contact him. tell him the situation he can clear up any questions you may have. it's worth the piece of mind and he will do it for free
Are you living in the property? Is your mail delievered to the property, all utilities in your name? Have you established residency at this house. Did you brother and wife have their mail forwarded and all utilities taken out of their name. Did they establish residency some where else? Are your brother and wife totally off the insurance policy? Did you have any kind of purchase and sell agreement completed or any kind of written agreement that was signed by all parties?
It sounds like you are in good shape with the QCD. But I have seen deeds over turned in court records. Usually it is an owner that probably got duped by an investor into signing over their house without realizing what they were doing. So I am just trying to establish if the wife could make a similar claim - that she was duped into signing over the house - that she did not know what she was signing.
Brenda
YES WE ARE LIVING IN THE HOME .WE PAY ALL BILLS IN OUR NAME AND THE INSURANCE AND TAXES ARE IN OUR NAMES
OK SO WE HAVE DECIDED THAT THEY ARE SCREWED WHEN IT COMES TO THE QUIT DEED . I CALLED AN ATTY AND HE ASSURES ME THAT THEY CANNOT JUST DECIDE THAT THEY NO LONGER WANT TO GIVE SOMETHING THEY ALREADY GAVE . SO HERE IS MY NEXT QUESTION IF I WANTED TO OUTRIGHT SELL THE HOUSE .WOULD THE WIFE AND BRO HAVE TO SIGHN?
I WAS TOLD THAT THEY DO NOT HAVE ANYTHING TO DO WITH THE SALE BECAUSE THEY NO LONGER OWN IT .
THAT WHOEVER BUYS IT WOULD SIMPLY APPLY FOR THERE LOAN THEN I WOULD HAVE TO SIGHN OVER THE PROPERTY AND THE OLD MORTGAGE WOULD SIMPLY BE PAID OFF
It sounds like 100% of the interest in the property has been quit claimed to you, so the only signer to sell the property would be you.
You should be home free.
[addsig]