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Honored Contributor
Posts: 17,631
Registered: ‎03-10-2010

Quit claim deeds

[ Edited ]

Any one know about this,what it is good for?

When you lose some one you L~O~V~E, that Memory of them, becomes a TREASURE.
Honored Contributor
Posts: 12,295
Registered: ‎03-27-2010

Re: Quick claim deeds

[ Edited ]

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.

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It's Quit Claim Deed & the person doing it is giving up their interest in the property.

Esteemed Contributor
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And it doesn't mean you're off the hook for the mortgage.

 

 

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Honored Contributor
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It's good for when a homeowner dies and leaves an estate for family members to deal with.

Esteemed Contributor
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Registered: ‎03-15-2021

A quit claim deed can be used to correct a mistake in the title.

Honored Contributor
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Registered: ‎03-10-2010

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?

When you lose some one you L~O~V~E, that Memory of them, becomes a TREASURE.
Honored Contributor
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@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.

Respected Contributor
Posts: 2,031
Registered: ‎03-11-2010

Re: Quick claim deeds

[ Edited ]

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 

Respected Contributor
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@goldensrbest 

 

@Sooner is right.  Definitely consult with a professional on this.