Texas Quitclaim Assignment of Assets
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How to fill out Quitclaim Assignment Of Assets?
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FAQ
A quitclaim deed only transfers whatever interest in the property the seller has, and there's nothing stating that the seller has good title.
In Texas, title companies and insurers are very often unwilling to insure a quitclaim deed, and with good reason. Under Texas law, buyers using a quitclaim deed are charged with notice of any title defects, regardless of whether or not these defects appear in the record for the property.
Texas formally set a four-year statute of limitations for competing claims. Once a quitclaim deed is recorded in the property's county, a later purchaser or lender has good-faith protection, as long as the party has no knowledge of other unrecorded claims on the property.
Prop. Code Ann. §§ 13.001 to 13.005) by adding a new Section 13.006 relating to quitclaim deeds. SB 885 provides that four years after recording a quitclaim deed, a subsequent purchaser or creditor for value without actual notice of other unrecorded claims on the property has good faith protection.
Also called a non-warranty deed, a quitclaim deed conveys whatever interest the grantor currently has in the property if any. The grantor only "remises, releases, and quitclaims" their interest in the property to the grantee. There are no warranties or promises regarding the quality of the title.
A quitclaim gives no warranty of property title. Instead, it is used to show that the person signing the document is not making any claims to the property. He or she is ?quit claiming? the property. Relinquishes claims to a property but does not actually transfer title in Texas.
A quitclaim deed is not a deed at all. It is merely a document that transfers whatever title may exist in the grantor to a grantee. It doesn't grant any title. It's more in the form of an estoppel than a deed.
Transfers of real property must be in writing and notarized. Deeds should be recorded in the county where the property is located. To ensure a legal change to the property title, you'll want the services of an attorney. A qualified attorney will prepare and file the real estate transfer deed.
