QuickClaim Deeds property

[PropertyVirgin]

Hello i have a few questions, i saw a house i'm interested in buying it is a foreclosed property that an investor brought from the bank but i see from the county records office it was a quickclaim deed transaction. Now I'm pretty familiar with quickclaims deeds which leads to my question, since quickclaims deeds aren't 100% if i was to but this property is it possible the former owner can come and claim he or she has a maritime lein on the property "blah blah blah" or any other claim or interest in the property and take it back? Also Since the back only did a quiclclaim deeds who has the title? can someone explain this to me or share your experience with quickclaim deed grantors? Thanks

[CG in TX]

The validity of a quit claim deed probably varies by jurisdiction. Your best bet is to have a title company verify the title, and issue you an owner's policy. If they won't, or if there are multiple exception in the policy, make the investor fix those exceptions before closing the deal.

[Bitbit]

A quitclaim deed is just that.....the grantor is quitting all claim to the property. I have no idea what you mean that they aren't 100%.

[v8envy]

First off as others have pointed out, its a "quit" claim, second, if the investor who bought the home was any sort of reputable investor, he would have done an abstract title search on his own, and found no issues or would have walked away from the deal, my guess is he/she is an inexperienced investor, didn't know the difference between a warranty deed and a quit-claim, probably did no title search so to be safe close at a reputable title company and you have nothing to worry about with a owners poilicy. or the investor, doesn't "own" the property but rather had the person being foreclosed on sign a quit cliam to tie up the property and now he is going to wholesale the deal with none of his own money out of pocket while the property is still subject to redemption, likes of possibilities but in the end just close at a proper agency and your fine!

[doodlebugger]

The only thing about a quit claim is that it needs to have specific language to supercede dower's rights, so that is the only place I could see this having a hang up. We are dealing with this on our end for a different reason, but basically the real estate lawyer stated that if you live in a dower rights state, they will apply even if you have quit claimed the property. The only way around that is to have the quit claim state that the person is giving up all rights INCLUDING dower rights. Of course, I am no expert, nor do I have any law experience, so I would recommend ensuring they have a clean title to the property, and if you are still unsure, perhaps look into title insurance if you proceed with the purchase of the house?

[Bitbit]

Dower (and curtesy) rights can only be released by the one who has them. For example, I can sell my house (deeded in my name only) but only my husband can give up his curtesy rights. And I don't think I'm spelling it right, but the point remains.

 

If the one who gave a quit claim deed was marries at the time, that spouse must also sign to give up any dower/curtesy rights.