![]() ![]() Reasons To Be Wary Of Using A Quitclaim Deed In Texas This is true even if they ultimately transfer nothing at all. This means that the purchaser of property through a quitclaim deed cannot be confident they have valid title to the property.ĭespite all of this, quitclaim deeds are still a valid, if unreliable, means of transferring title to real property in Texas. By contrast, a quitclaim deed makes no warranties or promises about the quality or validity of the title. This is distinct from a warranty deed, which warrants that the title being granted is valid. A quitclaim deed can often not be used to establish title on its own. A quitclaim deed can therefore transfer anything from a fee simple interested in a property to nothing at all, depending on what interest the grantor has at the time of transfer. Instead, unlike a warranty deed, which conveys property, a quitclaim deed only conveys whatever interest the grantor has at the time of the transfer. With a warranty deed, a buyer can typically be very confident in what they are purchasing and its condition.Ī quitclaim deed provides no such guarantees. ![]() You may also make warranties related to the absence of liens or other encumbrances on the property. Most importantly, a warranty deed provides a guarantee that the seller actually holds title to the property being sold. A warranty deed, in addition to transferring title to property, warrants against certain defects of title. Warranty deeds are the most common means by which to transfer property. There are three main types of deeds used in the sale of real property in Texas. If you have questions or are involved with a transfer of property using a quitclaim deed in Austin, Pflugerville, or Round Rock, contact the real estate attorneys at the office of Sheehan Law, PLLC for a consultation. Why are quitclaim deeds so useless in Texas? This article will briefly examine what a quitclaim deed is, the limited uses of this type of deed, and the reasons they are relatively useless in Texas. ![]() They are so limited in use, in fact, that title and insurance companies in Texas will often refuse to work with them. While this is true in certain limited circumstances, the nature of Texas law makes quitclaim deeds nearly useless in many circumstances. Remember, only an attorney can give you legal advice on the far-reaching consequences of your actions.Quitclaim deeds are a form of property transfer that derive their appeal from being a quick, efficient, and cheap way to transfer real property. But signing a quit claim deed at this juncture is not one of them, as it could cost your mother and your family thousands of dollars later. ![]() There are other ways that you can protect your mother’s ownership interest in the property. So placing the property in your mother’s name at her age is not a good idea. Most seniors are trying to get assets out of their name, not have assets placed in their name so that the government does not include a free and clear home. Specifically, the government looks to a senior’s assets (e.g., money, homes, cars) as a resource that could have been otherwise used to help pay for nursing home care. In this case, while deeding a free and clear home back to your mother seems to be the right thing to do, as a real estate and elder care attorney, the transfer of the asset into her name could affect her eligibility for Medicare benefits in the event your mother needs nursing home care later. Doing so without knowing the impact of the deed can have serious legal and financial consequences. But just because you can access and fill in a legal form on your own does not mean you should. Legal forms, such as quit claim deeds, are easily available for download on the internet. Should Online Forms be Used for a Quit Claim Deed? Unlike other types of deeds, it does not guarantee that the grantor even owns the property before they convey their interest. When the quit claim deed is properly completed and executed, it transfers any interest the grantor has in the property to a recipient called the grantee. What is a Quit Claim Deed?Ī quit claim deed is a legal instrument that is used to transfer interest in real property. She now wants to prepare a quit claim deed, putting the home entirely in her mother’s name. Recently, when Susan was going through some documents, she found that the deed to the home in Wolverine Lake had Susan’s name on it only. They lived in the home together until this year, when Susan purchased her own home. Back in 2005, Susan and her mother purchased a small home in Wolverine Lake. ![]()
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