Quit Claim Deed+Orego
Hi, I am working with owner in pre forclosure and have an investor who wants to have them "quit claim" the property to him. They will l/o the property for 2 yrs and then he will quit claim it back to them in 2 yrs.
What should I lookout for to make sure the owners are protected?
Thanks in advance...
pdxinv,
Glad to meet you.
There is no protection you can offer the owners, once the deed has changed hands whatever happens to this investor attaches to the house should any liens or encumbrances be placed against him.
It would be like signing on a credit card for someone else and hope they pay the monthly statements when they come in, they may have good intentions, but should something happen you are the one who is stuck with the bill.
John $Cash$ Locke
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