Quit Claim Question
I have a property under contract that I am going to wholesale to a rehabber. The lady who signed the contract told me that there are two others on the title and they have both quit claimed their interest to her.
She has the documents but doesn't know exactly what to do with them and truthfully, neither do I. If we are going to close at a title company, is this stuff that is done there or does she need to go somewhere first and show these/record these with someone?
Thanks,
Christian "The Solutions Kid" Beebe
[addsig]
Very first thing she should do is to RECORD those quitclaim deeds! Those people could've quitclaimed their interest to anyone else - whoever is on record first wins. Have her record the deeds and check the recorder's office to see if anything serious adversely affects her title. If not, you're in good shape. Title company shouldn't care as long as the deed are recorded and they don't find anything else that clouds/defects the title.
So just playing stupid....
She will go down to the recorder's office and record them?
Chris
[addsig]
then stand in line hand the qd's over pay the fee to have them recorded then wait a couple weeks for the qd's to be mailed back to her.
Chris,
Your recorders office may have stacks of deads, mortgages, releases, etc and they may be weeks or even months behind on the getting them in the system.
If you have her record those right away, and you look over the title to make sure that it is not cloudy, you could close right away. She would probably need a copy of the recorded quit-claims and or a receipt from the recorders office. The title company can verify that it is completed (or atleast in the stack)
BAMZ