Posted by Jackie on July 19, 1999 at 09:28:33:
You need to do a title search first to see if any are against it. Then buy title insurance to protect yourself.
If there is a lien on the property, the person on the note will be liable to pay back any funds owed against the leins and the lein holder still has the right to take the property from you to cover the lein. You will not be affected financially though with regards to any liens except for loosing the property and any monies you put into it.
Lien Bug - Posted by Kal
Posted by Kal on July 19, 1999 at 08:21:12:
Upon taking on property on a Quit deed claim basis what dangers if any are there if a property has Leins attached to it and what problems may I face after completing the takeover?
What could I do to prevent this happening?
Quit claim deed - Posted by Bud Branstetter
Posted by Bud Branstetter on July 19, 1999 at 20:49:10:
The Quit claim deed only says that IF I have any ownership interest I give them to you. It does nothing about other ownership or liens. A title company would probably not insure a quit claim deed but would require a warranty deed.