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Quitclaim Deed

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This consist of two separate calculations: a housing expense as a percent of income ratio and total debt obligations as a percent of income ratio.

Quitclaim Deed ...

 


Quitclaim Deed - A type of deed in which the grantor transfers to the grantee all interest in the subject property that a grantor may have. The grantor makes no warranties of title whatsoever.

Quitclaim Deed
A deed that transfers without warranty whatever interest or title a grantor may have at the time the conveyance is made.

Quitclaim Deed - A deed that conveys only the grantor's rights or interest in real estate, without stating their nature and with no warranties of ownership.

Quitclaim Deed - A deed releasing a person's interest in a property without stating the nature of the person's interest or rights, and with no warranties of ownership.

Quitclaim deed - A conveyance by which the grantor transfers whatever interest he or she has in the real estate, without warranties or obligations.
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Quitclaim Deed: a deed transferring ownership of a property but does not make any guarantee of clear title.
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quitclaim deed
document in which title, claim, or ownership of property or an estate is relinquished to another, without representing that such title is valid.

Quitclaim deed
A document that transfers the grantor's interest in a title to property and is filed with a county recorder. It often is used among family members and can be used to clear up a gap in the chain of title.
Quit claim deed ...

Entry 13 shows that Samuel Brown and Sophy Brown have sold a part of lot 1 to James Jones by quitclaim deed. Generally, a quitclaim deed transfers title to property without warranties that the title is free and clear.

A quitclaim deed is often given to clear the title when the grantor's interest in a property is questionable. By accepting such a deed the buyer assumes all the risks.

The title is not clean and a quitclaim deed must be filed to resolve the potential hindrance. For instance, a paid loan with property secured may not have been recorded or a deceased owner was never removed from the deed to a house or title of a car.

Clouds on title are usually revealed by the title search, and may be removed from the record by a quitclaim deed or a quiet title proceeding. While the cloud remains, the owner is usually prevented from conveying a marketable title.

For example, an attorney may accept a partial or entire interest in a property (usually by a quitclaim deed) as payment for legal fees.

Cloud on Title: Any documents, claim, unreleased lien or encumbrance that may impair the title to real property or make the title doubtful; usually revealed by a title search and removed by either a quitclaim deed or suit to quiet title.

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Quitclaim deed ...

quitclaim deed A deed that transfers whatever interest or title a grantor may have, without warranty. quorum Minimum number of people who must be present (physically or by proxy) in order for a decision to be binding.

See also: Grantor, Warranty, Cloud, Expense, Encumbrance

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