Missouri Sample Letter to Client regarding Quitclaim Deed Delivery - cover Letter
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How to fill out Sample Letter To Client Regarding Quitclaim Deed Delivery - Cover Letter?
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FAQ
A quit claim deed in a divorce or legal separation gives one party the sole ownership of the property. This allows that party to sell or mortgage the property without the approval or consent of the other party.
The grantee's address must be on the first page of the legal documents. Additionally, quitclaim deeds in Missouri require a physical description of the property being conveyed as well as the tax parcel number. While only the grantor signs the quitclaim deed in Missouri, they must be notarized.
Due to this, quitclaim deeds typically are not used in situations where the property involved has an outstanding mortgage. After all, it would be difficult for many grantors to pay off a mortgage without proceeds from the sale of the property.
While quitclaim deeds offer some benefits, there are also significant risks and disadvantages associated with their use. One major disadvantage is that the grantee assumes all risks associated with the property, including any defects in the title, liens, or encumbrances.
NounLaw. a transfer of all one's interest, as in a parcel of real estate, especially without a warranty of title.
