Quit Claim Deeds (San Antonio, Anton: real estate, lease, mortgage)

[ChrisBRothe]

I recently saw a newscast that informed the viewers that those who own their homes are vulnerable to unscrupulous people filing a Quick Claim Deed on the home. Is this true? If so, how do we prevent that from happening? Thank you for any information you can provide me.

[sinsativ]

A Quit Claim Deed, is where you sign over your rights as owner to the house. No one can do it without you and whoever else is on the title of the house signing the document. It's another form of title. It doesn't remove your financial obligation to the mortgage company, but the title is in whoever's name is on the Quit claim deed. They have to be notarized and recorded to be legal.

[ged_782]

Originally Posted by ChrisBRothe

I recently saw a newscast that informed the viewers that those who own their homes are vulnerable to unscrupulous people filing a Quick Claim Deed on the home. Is this true? If so, how do we prevent that from happening? Thank you for any information you can provide me.

A Quit Claim Deed essentially means one of the parties who holds title to a piece of property gives up their ownership, or "quits". Probably one of the most common uses would be transfer of ownership between family members, or in a divorce situation, where one of the partners no longer wants to have an interest in real estate they owned with their spouse.

BTW, on what newscast did you hear about this vulnerability? Sounds to me like something that may have been blow way out of proportion. I wouldn't think the majority of people have anything to worry about.

[wCat]

Originally Posted by ged_782

BTW, on what newscast did you hear about this vulnerability? Sounds to me like something that may have been blow way out of proportion. I wouldn't think the majority of people have anything to worry about.

I was wondering this too. Which newscast? Can you go to the web site and see if they have a follow up story?

My only guess would be unscrupulous contractors preying on the elderly, or lease to own contracts which can be on shaky grounds to begin with.

A quit claim is a legal document.....not something someone can do without your consent.

[ChrisBRothe]

I wish I could remember where I heard it---perhaps on CNN? Anyway, I appreciate all of your responses. Thank you for the information you've given me.

[dendox]

the other distinction of a quit claim deed is that it passes the property without warranty. You basically tell the purchaser - I'm giving you my interest in the property, whatever interest that may be, but am making so representaitons that I have good title, free from encumbrances, etc.

There are certain warranties one makes impliedly when transferring property, by using a quit claim deed (legal term of art) - you are effectively telling anyone interested that you did not make those warranties in this case.

Sort - to a small degree - absolves the seller of potential culpability if it turns out there are defects.

[wCat]

Originally Posted by ChrisBRothe

I wish I could remember where I heard it---perhaps on CNN? Anyway, I appreciate all of your responses. Thank you for the information you've given me.

Chris....if it wasn't a San Antonio broadcast, then you might want to check out a general legal or real estate discussion forum. I googled quitclaim fraud and found several hits.

[ChrisBRothe]

I'll check it out! You all were great with your information and I appreciate all your answers. Thank you so much! Chris

[ChrisBRothe]

wCat, thank you for your suggestion. I saw how fraud was committed through forged signatures. How can that be prevented so that there's no worry of someone forging our name on a Quit Claim deed? Or, is it at all preventable?