Quit Claim Deed Pa

A quitclaim deed is dangerous if you don't know anything about the person giving you the property. You should be sure that a person actually has rights to a property before signing it over with a quitclaim deed.

Unlike a general warranty deed, there's no guarantee made as to the ownership. There's no title search completed and no title insurance issued. Lenders wouldn't accept a quitclaim deed being used to purchase a property.

Quitclaim deeds are most often used to transfer property between family members.Examples include when an owner gets married and wants to add a spouse's name to the title or deed, or when the owners divorce and one spouse's name is removed from the title or deed.

A quitclaim deed transfers title but makes no promises at all about the owner's title.A person who signs a quitclaim deed to transfer property they do not own results in no title at all being transferred since there is no actual ownership interest. The quitclaim deed only transfers the type of title you own.

A quitclaim deed affects ownership and the name on the deed, not the mortgage. Because quitclaim deeds expose the grantee to certain risks, they are most often used between family members and where there is no exchange of money.Quitclaim deeds transfer title but do not affect mortgages.

Transfer property quickly and easily using this simple legal form. You can use a quitclaim deed to:transfer property you own by yourself into co-ownership with someone else. change the way owners hold title to the property.

Once you sign a quitclaim deed and it has been filed and recorded with the County Clerks Office, the title has been officially transferred and cannot be easily reversed. In order to reverse this type of transfer, it would require your spouse to cooperate and assist in adding your name back to the title.

But you might be wondering if an owner can transfer a deed to another person without a real estate lawyer. The answer is yes. Parties to a transaction are always free to prepare their own deeds.A quitclaim deed, for example, is far simpler than a warranty deed.