AZ Title Company Should Record Quit Claim Deed To Transfer Home Interestby Christopher Combs Arizona Real Estate Attorney real estate law attorney?
If this quit claim deed is recorded, they should be the sole owner of the home. In general, however, no one should ever transfer any interest in a home or other real property without procuring title insurance. Before a title company will furnish title insurance, they will furnish a commitment for a title insurance policy. This commitment will show any liens that have to be paid before a “clear” title insurance policy can be issued. For example, if the girlfriend has a $20,000 credit card judgment, and the quit claim deed to him from her is recorded, this $20,000 judgment would be a lien against the entire home, not just the girlfriend’s one-half interest in the home. In addition to “clear” title, a title company will require the proper form of the quit claim deed and would require the recording of an affidavit of property value and any other necessary documentation.
Note: If they do not use a title company, and there is a mistake in the form or recording of the quit claim deed, this mistake will have to be corrected when you want to sell the home in a few years. At that time, however, he may not be able to locate her or she may not be willing to cooperate in signing any documentation. You would then have to contact an Arizona real estate law attorney to file a quiet title lawsuit.
Created on Jun 3rd 2011 05:22. Viewed 1,074 times.
No comment, be the first to comment.