The Quitclaim Deed - You Can Sell A House That You Don’t Own!
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Normally, when you put your property up for sale, you have to
present a document, called a warranty deed, which states that
you are the legal owner of the property and that the title you
have on hand is the original copy. But what if you don’t have
the title of the property yet you have the legal rights to it?
What document can you then, present to prospective buyers? For
situations such as these, the appropriate form to use is the
called the Quitclaim Deed form.
A Quitclaim Deed is a document which states that, although you
may not own the property in question, nor have its title in
your possession, you do have the legal right to use it and are
authorized to dispose of it (through sales). Quitclaim deeds
are used you acquired the property in question through other
means such as receiving it as an inheritance or when you became
a co-owner by virtue of marriage. Quitclaim deeds are also for
properties owned by the state but you are authorized to use
through leasehold.
Quitclaim deeds are fairly straightforward. A quitclaim deed
should include the names of both the buyer and the seller, the
amount the buyer and seller agreed the property is worth, the
location of the property, and of course, a notation wherein the
seller waives or releases all his rights, interests and claims
on the property. In addition to these, for a quitclaim deed to
be considered legal, it should bear the signatures of the
parties involved, those of the witnesses and, must also carry a
notarial seal and signature.
In the past, home sellers had to request lawyers or real estate
agents to prepare quitclaim deeds for properties they want to
put up on sale, but this has all changed now. In recent years,
several real-estate related sites have been established and
these sites assist those involved in real estate transactions
by providing not only great tips on selling or buying a
property; but also the necessary documents that will be needed
to formalize any real estate arrangement.
Most real estate websites carry all sorts of real estate
related documents and these can easily be purchased and
downloaded by web users. The format and content of these forms
have been well researched to ensure that these will be
recognized by local, state and federal agencies. In each site,
there is a listing of standard / generic forms but there are
also forms that follow the requirements and content of specific
states.
If you need real estate documents, real estate websites usually
give you the option to either download forms by bulk or set, or
you can purchase forms on a per piece basis, buying and
downloading as the need arises. In addition, these downloadable
forms, although these conform to a certain format, can easily be
modified to suit your requirements. Should you wish to include
more or limit the information on your Quitclaim Deed, for
example, you can easily do so.
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