Quitclaim Deed Delete Initials Field For Free

Their proper name is "quitclaim deed," but the confusion about the name is understandable, since, in essence, a person using a quitclaim deed is "quitting his claim" on a property very quickly!

If the misspelled word happens to be either the name of the grantor or grantee, and the grantor refuses to execute a corrective deed, the grantee can petition the court for redress, as long as the court can determine whom the correct parties are by all evidence leading up to the execution of the deed.

Quit claim deeds give rights to property; however, the rights that are conveyed may be worthless. One person gives up whatever rights he has to another. The quit claim deed does not guarantee that the person giving up the right had any rights in the first place.

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.

An error in a deed must be corrected before an underwriter will insure a title policy. Generally, these documents to correct an error in a deed must be drafted by a real estate attorney or the agent directly involved in the closing.

When you receive property through a quitclaim deed, or inherit it, you become fully responsible for that property. Any taxes, insurance, property liens or other debts attached to the property you received via quitclaim deed become yours as well.

A quitclaim deed to LLC is actually a very simple process. You will need a deed form and a copy of the existing deed to make sure you identify titles properly and get the legal description of the property.