Quit Claim Deeds

[missmanors]

A quit claim deed is used to transfer any interest one person has in a property to another person. There are no guarantees that there are no other claims against the property in question.

When an owner signs a quit claim deed, the owner's name is removed from the home's title, but if that owner's name is on the mortgage, he still has financial responsibility for the property. In order to protect yourself from retaining financial responsibility on the property, the loan must go through refinancing.

[JaredfromIndiana]

Originally Posted by missmanors

A quit claim deed is used to transfer any interest one person has in a property to another person. There are no guarantees that there are no other claims against the property in question.

When an owner signs a quit claim deed, the owner's name is removed from the home's title, but if that owner's name is on the mortgage, he still has financial responsibility for the property. In order to protect yourself from retaining financial responsibility on the property, the loan must go through refinancing.

Always talk to an attorney before you sign any kind of deed. You need to make sure that you are covered! My two cents.

[missmanors]

You're absolutely right Jared - always protect yourself before signing on the dotted line!! Thanks for the reminder