When purchasing a property jointly, the manner in which you take title has important legal implications for the owners.
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Quit-claim deeds transfer the rights in a property without a formal title review or search. Quit claim deed transfer the rights in which a grantor has at the time the property is conveyed, giving a greater amount of risk for the grantee should there be an issue or “cloud” in title.
A quiet title action is a lawsuit in which the Plaintiff asserts that they possess good and marketable title to a certain property, thus putting the burden on anyone else who wants to claim ownership, lien rights, or some other right to the property, to join the lawsuit and prove their claim, or have it permanently extinguished.
You’re a real estate agent, so you know that buying a home can be overwhelming for many of your clients. Homebuyers can easily feel confused and frustrated by the mounds of paperwork they have to sign. Plus, all the fees associated with closing can sometimes be a surprise even to an experienced buyer.
Purchasing or selling a home is one of the most important events in your life from a financial standpoint. After signing a contract, most home buyers elect to hire a title and escrow company recommended by their broker. However, there are downsides to hiring a title agent who is not an attorney to handle your transaction.
