Posted by John Merchant on November 03, 2002 at 01:26:19:
What you have here is a title issue, and you can guess all you want…or order a title commitment from a local title company and see what they tell you.
I can conceive of that situation wherein the title company might want more than a mere quit claim deed, but also the situation where that might be adequate, so there’s more to the issue than what kind of deed was used in the conveyance.
More to the point is what other possible claimants or owners are there to the RE, and maybe the decedent did have descendants and heirs whose interests have not yet been eliminated…and this is where the title company’s search and commitment, and list of outstanding title deficiencies on the property would come in very handy for you. And answer your questions about the current status of the title. And what needs to be done now to give clear, mortgageable title to the owner.
quit claim deed property for sale - Posted by Laura Burden
Posted by Laura Burden on November 02, 2002 at 20:23:18:
I live in Kentucky. My grandson and his wife are looking into buying a house from my neighbor. She has a quit claim deed on the house. The previous owner died 3 months after purchasing the house at an auction and never recorded his deed. After the house had been vacant for 3 1/2 years, my neighbor started searching and found that the man who died had no heirs. She then went to a realestate attorney and quit claimed the property for the 3 years back taxes plus $1.00. She is now wanting to sell the house but told my grandson and his wife that her attorney told her that with a quit claim deed you cannot put a lein on the property for 15 years. Is this true? My grandson and his wife want to mortgage the property to do necessary improvements to the house. Is there any way around this, or can they not mortgage the home?
Re: quit claim deed property for sale - Posted by Nate(DC)
Posted by Nate(DC) on November 04, 2002 at 24:17:38:
I agree with John. Call a local lawyer or title company. For a relatively small fee ($300 or less, I’d expect) they should be able to tell you the status of the title on the property. As long as they can insure the title, in the event your grandson were to buy, he has nothing to worry about. If they will not, you could ask them why not and see if the seller can cooperate in resolving the title problems. After all, if they do not do so, they will be unable to sell.