Posted by Terol on April 07, 2005 at 19:27:32:
Thanks Garrett…will take your advice
Do You Have to Go Thru Escrow? - Posted by Terol
Posted by Terol on April 06, 2005 at 21:59:47:
I want to buy a piece of property. We have the title report
which came back clean (no mechanic’s liens, unpaid taxes, mortgages etc.) However, the Sellor has a personal judgment aginst her and just wants to quit-claim the property over to me. I will be paying her cash for the property so will it be ok to buy it this way?
Many thanks for your thoughts.
Re: Do You Have to Go Thru Escrow? - Posted by Garrett Sutton
Posted by Garrett Sutton on April 07, 2005 at 16:34:03:
Given the circumstances you have just described you are going to WANT to go through an escrow company and use a grant deed. I would also consult with a local attorney to see if your state law will give her creditor a right to undo the transaction as a fraudulent conveyance. Be very careful on this one.
Re: Do You Have to Go Thru Escrow? - Posted by William L Exeter
Posted by William L Exeter on April 09, 2005 at 13:02:03:
You should absolutely use an escrow to protect you from any future issues with the seller’s problems. I would not accept a Quit Claim Deed at all.