Back to the Basics - What is a Quitclaim Deed?

Quit Claim Deed (QCD) is used to act in the interests of owners (the sponsor), the investor (owner) transfers. Although sometimes referred to as "Quit List" or "Quick Claim Deed", both technically incorrect. Flexibility QCD is the most widely used tool in the foreclosure flipping industry. Legally binding and effective you can be the signature of the creditor, the legal description of the property being conveyed, benefits paid (to consider), and in many jurisdictions, the signature of a notary.

Now, before we get too far go - I must say - End Claim deeds have one significant limitation: they only transfer the rights to sponsor the property, there is no guarantee that a provider nemovitost actually owns all or part. If anyone is interested in the property and do not order their signature, your interest is not transferred to you. Make sure you your homework first! If you are looking for a guarantee that you would be better served with either a special guarantee of performance of general warranty, but come with added complexity and lose the flexibility provided by QCD in this process. - I'll cover this in another article -

Typical QCD looks like this:

QUIT CLAIM DEED

QUIT CLAIM instrument of the 25th of May 2008, John Doe and Jane Doe, husband and wife, whose address is Post Office 123 Main Street, Clearwater, Pinellas County, Florida, and ZIP ¥ 55,555 donor, your name, a postal office address is your address' the Investigator: (If it is used herein, the terms "provider" and "authorized" all parties to this instrument and the heirs, legal representatives and assigns of individuals, and a successor company.)

Suggests that the sponsor, for good and valuable consideration, the host, which is acknowledged hereby grants, bargains, sells, aliens, warehouses, reports, arrange and quit-claims investigator, forever, all right, title, interest, and argues that the authority described in and on the land situate, lying and being in Pinellas County, Florida, as follows:

The statutory definition is also known as street and number as the address 123 Main Street, Clearwater, Pinellas County, Florida State, and ZIP code of 55555 and parcel ID number: 55-555-555-55-55.

To have and hold the same together with all the necessities and strange there, in part or in any way belong, and all property, right, title, interest, lien, equity and the right of the provider, either in law or equity, only proper use, benefit and on behalf of dealers, forever.

IN WITNESS, the sponsor has signed and sealed these presents the data as given.

A few points in mind when your Quit Claim documents:

1st Do your research and make sure you have the signatures of all parties.

2nd If donors are spouses, or if married, indicate whether or not a man or woman, otherwise you will find some time in the future, and certificates, divorce or Affidavit of Continuous Marriage (Yip, I know from personal experience ).

3rd Most banks will notarize documents for you free if you are a client, because otherwise the amount of $ 5 - $ 10 for this service.

4th Most UPS Stores can do it for you if you need a signature from someone who was there. May obtain the document, a signatory to come into the store, sign your QCD, notarize and send back to you. You can even call the UPS store ahead of time to ensure the documents by email to the store, they will print and notarize the grantor appears. Of course you have to pay for this service, usually around $ 100 if they include all costs, but it saved me many times!

5th Get a competent lawyer or at least the name of the agent to verify your documents. Many title agents will help you as long as you work as a last resort.

Just one last comment, and there are several property management systems, the conclusion as to document and treaty-making process is automatically processed for you, including importing the names and details of the contract is generated. This saves you time and trouble to submit a contract with a typing error in IT and must return to my office to rush to correct such information. It's not my favorite way to suffer, but implementation of QCD or other contract, for that matter.