Quit Claim Deeds

[Jeff Amore]

Hi all!

Total newbie question… when someone acquires a property via quit claim deed and then takes some action to remove the cloud on the title, is there a new deed (of some other type) filed with the county?

I’m wondering if I should scrub out properties acquired via quit claim deed from my data/mailing list if I don’t want to deal with that situation. I had a seller contact me that had this scenario and I ended up spending a bit of time on due diligence before finding out.

Topic

[Kevin Farrell]

#27854

Jeff – QCD is appropriate when conveying the property within the family, from family to trust or from trust to family. These are non-arms length transactions. These types of transactions can have some problems built in if they are not handled by someone who knows how to create and record the deed. A QCD between two parties that are not closely related by family or business relationship is sometimes done. This can be seen as a cloud on the title. I would not avoid properties just because they are owned on a QCD.

You will have just as many deed problems with other deed types that usually involve deceased owners. Either way you will need to do your Due Diligence for each property.

Kevin Farrell - Moderator
Need more help?
Schedule a 60 minute call - https://calendly.com/kevin-629

[Luke Smith]

#27857

Or you could stay out of the desert and other low price land. Then you can price in all kinds of ways to fix things. People owning the bigger $ stuff pay to get things fixed the right way too. Lot less problems the more you go up in price.

[Jeff Amore]

#27865

Thank you both!

Yes, Luke…I’ll always do some RVL, but my plan is to quickly transition to infill lots. I just want to get a couple deals under my belt first.

[Author]

Replies