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‎12-11-2021 04:23 PM - edited ‎12-14-2021 06:14 AM
Any one know about this,what it is good for?
‎12-11-2021 04:26 PM - edited ‎12-11-2021 04:45 PM
You can Quit Claim your home in order to put it in your Trust Deed. You become the trustor of the revocable Trust so you maintain control of your home. You can sell your home in the Trust or Quit Claim it out of the trust and sell it. Please review with an attorney if you want information regarding this process.
‎12-11-2021 04:27 PM
It's Quit Claim Deed & the person doing it is giving up their interest in the property.
‎12-11-2021 04:32 PM
And it doesn't mean you're off the hook for the mortgage.
‎12-11-2021 04:37 PM
It's good for when a homeowner dies and leaves an estate for family members to deal with.
‎12-11-2021 04:38 PM
A quit claim deed can be used to correct a mistake in the title.
‎12-11-2021 05:56 PM
If the home owner has their name on it ,and has to go to a nursing home ,would that save the house from nursing home taking it?
‎12-11-2021 06:14 PM
@goldensrbest wrote:If the home owner has their name on it ,and has to go to a nursing home ,would that save the house from nursing home taking it?
@goldensrbest there are look back periods and other complications and you need professional advice, probably a lawyer for that state.
‎12-11-2021 06:16 PM - edited ‎12-11-2021 06:17 PM
I could be wrong about this, but I think that to be protected from the nursing home situation, the house needs to be out of the person's name for a period of time. I'm not sure what the lookback period is right now. @goldensrbest
‎12-11-2021 06:18 PM
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